New Delhi: NHPC Limited, a state-owned hydropower utility, has signed a Memorandum of Understanding (MoU) on with the Ministry of Power for the year 2019-20 on Wednesday. The MoU was signed by Ajay Kumar Bhalla, Secretary, Ministry of Power, and Balraj Joshi, CMD, NHPC in the presence of senior officers from the ministry and NHPC.
In the MoU, generation target for NHPC under excellent rating has been set at 26,000 MU as against last year's target of 25,400 MU. Excellent targets for revenue from operations (net) has been kept at Rs 8,200 crores, operating profit as a percentage of revenue from operations (net) has been kept at 28.50 percent and PAT/ average net worth has been kept at 8.75 percent.
Further, capex target to ensure optimum utilisation of budget, targets regarding plant availability factor, trade receivables and reduction in claims against the company not acknowledged as debt etc have been included in the MoU.
In addition, milestones with respect to human resource management parameters and other sector specific parameters, viz, reduction in O&M expenses over 2018-19 etc have also been included in the MoU.