NHPC Inks MoU With Power Ministry Detailing Targets For The Year 2020-21

NEW DELHI || India’s premier hydropower utility and a Scheduled ‘A’ Mini Ratna Enterprise of the Government of India, NHPC Limited, has signed Memorandum of Understanding (MOU) on 29.09.2020with Ministry of Power, Government of India for the year 2020-21, an official said on Tuesday.

The MOU was signed by Sanjiv Nandan Sahai, Secretary, Ministry of Power, Government of India and A K Singh, CMD, NHPC in the presence of senior officers from MOP and NHPC. In the signed MOU for NHPC, generation target under Excellent rating has been set as 27500 MUs as against last year target of 26000MUs.

Excellent targets for Revenue from Operations (Net) has been kept as Rs. 8900 crore, Operating Profit as a percentage of Revenue from Operations (Net) has been kept as 38.00% and PAT/ Average Net Worth has been kept as 10.50 %.

Further, Capex target to ensure optimum utilization of budget, targets regarding Trade Receivables, Reduction in claims against the company not acknowledged as debt over previous year on overall basis and Percentage of Procurement of goods and service through GeM portal to total procurement of goods and services during the previous year etc. have been included in the MOU.

In addition, milestones in respect of restoration of Unit #1 & Unit #2 of Chamera-II Power Station and Assets Monetization parameters have also been included in the MOU.