The Hindu Business Line : NHPC outlines Rs 30,000-cr capex

State-owned National Hydroelectric Power Corporation Ltd (NHPC) has outlined a capital expenditure of about Rs 30,000 crore to more than double its existing generation capacity to 10,000 MW by the end of 2012. The company, which has an installed capacity of 3,755 MW at present, has lined up 14 projects to augment its generation capacity during the Eleventh Plan period.

"We aim to become to a 10,000-MW company by the end of the Eleventh Plan," the NHPC Chairman and Managing Director, Mr S.K. Garg, said at the sidelines of a conference here. Of the proposed Rs 30,000-crore expenditure, internal accruals will account for Rs 4,800 crore and the Government's budgetary support would be to the tune of Rs 6,000 crore, while the company plans to raise Rs 1,000 crore from the markets through an IPO. "The balance amount will come from domestic and international borrowings," Mr Garg said.

NHPC already has two lines of credit worth Rs 9,000 crore with Life Insurance Corporation, of which around Rs 1,000 crore has already been used, he said.

Of the 14 projects lined up for the Eleventh Plan, 12 are already under various stages of implementation. "Clearance for the remaining two projects is awaited and we hope to get it before March this year," he said, adding that the two projects — Kotlibhel 1A and 1B in Uttaranchal — would generate 195 MW and 320 MW respectively and entail an investment of around Rs 2,500 crore.

During the financial year 2007-08, the company plans to spend Rs 3,845 crore, for which the Government is expected to chip in with Rs 1,300 crore. "We will have a meeting with the Planning Commission to finalise the annual plan for 2007-08," he said.

Responding to queries on NHPC's proposed IPO, Mr Garg said the company was yet to finalise the lead managers for the IPO.