NHPC signs MoU with Ministry of Power for year 2020-21

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.

NHPC Limited, India’s premier hydropower utility, and a Scheduled ‘A’ Mini Ratna Enterprise of the Government of India has signed a Memorandum of Understanding (MOU) on 29.09.2020 with the Ministry of Power, Government of India for the year 2020-21. The MOU was signed by Shri Sanjiv Nandan Sahai, Secretary, Ministry of Power, Government of India, and Shri A.K.Singh, CMD, NHPC in the presence of senior officers from MOP and NHPC.

In the signed MOU for NHPC, the generation target under Excellent rating has been set as 27500 MUs against last year's target of 26000 MUs. 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 the previous year on an overall basis, and Percentage of Procurement of goods and service through the 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.

(With Inputs from PIB)