NHPC to miss capex target for FY22 by Rs 2,500 cr:CMD

• Discussing the progress made in various projects, the NHPC CMD said that the lull induced by the COVID-19 pandemic seems to be over and work is on in full swing
• We have set a target for commissioning two units of Subansiri Project by August 2022, said the CMD

New Delhi: State-run NHPC Limited is going to miss its capex target for the current financial year by about Rs 2,500 crore. Against a capex target of Rs 8,000 crore, NHPC is hoping to incur expenditure of Rs 5,500 crore in FY22, NHPC Chairman and Managing Director (CMD) AK Singh told investors during an investors' call conference. However, he added that the number must be viewed in light of the fact that the highest capex incurred by NHPC so far has been Rs 3,900 crore.

"Rs 3,900 crore spent on hydro projects so far. And we anticipate another Rs 1,500 crore by end of March. So, around Rs 5,500 crore will be spent under capex this year. So far, the highest capex incurred by NHPC is Rs 3,900 crore. So, we are doing good capex in this financial year. And we are planning the same for the next year as well," Singh told investors.

Lull caused by COVID over, work on in full swing: NHPC CMD

Discussing the progress made in various projects, the NHPC CMD said that the lull induced by the COVID-19 pandemic seems to be over and work is on in full swing. "Work on Subansiri project (2,000 MW) is going on in full swing. We have set a target for commissioning two units by August 2022. And the balance units are to be commissioned by August 2023. We are very hopeful that we will be able to do it. For Teesta VI (500 MW), all packages have been awarded and work is progressing as it should," Singh told investors. 

NHPC's outstanding dues at its lowest-ever

NHPC has achieved its lowest-ever outstanding dues after receipt of payment from Jammu & Kashmir, said the CMD. "With the receipt of payment of Rs 96.228 crore against Water Usage Charges from Jammu & Kashmir, the outstanding dues more than 45 days, plus surcharge, have been reduced to Rs 945.51 crore, which is the all-time lowest outstanding dues since inception of all the current power stations of NHPC," said NHPC in a statement on Twitter on Tuesday.

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