NHPC plans to raise 2,000 cr in current fiscal

NHPC plans to raise 2,000 cr in current fiscal

New Delhi: Country’s largest hydro power producer NHPC plans to raise about 2,000 crore in the current fiscal, mostly from the domestic market.

The proceeds would be utilised for existing as well as upcoming projects, NHPC chairman and managing director A B L Srivastava said.

“We are planning to raise about 2,000 crore from the markets in the current fiscal. It could be through term loans or bonds, among others."

“We would be mostly looking at domestic markets to raise the funds, since borrowing domestically is cheaper," Srivastava told PTI.

NHPC, which has an installed capacity of more than 5,300 MW, has a cash surplus of over 4,000 crore.

It raked in a profit of 2,166.67 crore in the last fiscal as compared to 2,090.50 crore in 2009-10.

The state-run major is engaged in the construction of 10 projects at various locations in the country, having a total installed capacity of 4,502 MW.

It plans to increase the capacity to over 10,000 MW by end of the current XI Five-Year Plan (2007-2012).

NHPC generated 6,284 million units of electricity in the June quarter, about 10.5% higher than 5,689 million units achieved in the same period a year ago.