Hydroelectric Power Corp to commission two projects by 2009-end

March 13th, 2009 - 7:48 pm ICT by IANS  

New Delhi, March 13 (IANS) State-run National Hydroelectric Power Corp (NHPC) plans to commission two of its projects with a combined capacity of over 250 MW by 2009-end, a top official said here Friday.
“We plan to commission one of the Teesta hydro-electric projects (in West Bengal) with 132 MW capacity and the 120-MW Sewa-II project in Jammu and Kashmir by December this year,” NHPC chairman and managing director S.K. Garg told reporters.

Eleven projects of the company are under construction, of which the remaining eight are expected to be completed by 2011.

NHPC is planning to double its power generation capacity from the present 5,200 MW by 2012 for which it has outlined expansion plans worth Rs.280 billion. NHPC accounts for over three percent of India’s installed power generation capacity of nearly 144,000 MW.

Asked about the company’s proposed initial public offering (IPO), Garg said the issue was put on hold due to volatile market conditions.

NHPC had proposed to come up with an IPO last year to raise Rs.16.7 billion (Rs.1,670 crore) for funding its power generation projects, but the plan was later put off.

The power giant has approached domestic bankers for raising funds, Garg said.

The company has already tied up with state-run Power Finance Corp (PFC) for about Rs.40 billion and with Life Insurance Corp (LIC) for nearly Rs.65 billion, he added.

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