Excelsior Correspondent
JAMMU, Sept 29: Sanjiv Nandan Sahai, Secretary (Power), Government of India and A.K. Singh, CMD, NHPC signed Memorandum of Understanding (MoU) between Ministry of Power, Government of India and NHPC for the year 2020-21 at New Delhi. Tanmay Kumar, Joint Secretary (Hydro), Ministry of Power, Y.K. Chaubey, Director (Technical), NHPC and Harish Kumar, Executive Director, NHPC were also present on the occasion.
NHPC Limited, India’s premier hydropower utility and a Scheduled ‘A’ Mini Ratna Enterprise of the Government of India has signed Memorandum of Understanding (MoU) today with Ministry of Power, Government of India for the year 2020-21. 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 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 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.
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