NHDC limited, a joint venture of NHPC limited and Government of Madhya Pradesh, has signed Memorandum of Understanding (MOU) for the year 2016-17 at Faridabad on Saturday with NHPC limited, India’s Premier Hydropower utility and a Scheduled ‘A’ Mini Ratna Enterprise of the Government of India.
The MOU was signed by KM Singh, Chairman and Managing Director, NHPC and Dhiman Parija, Executive Director, NHDC in the presence of RS Mina, Managing Director, NHDC and Director (Personnel), NHPC, AK Sarkar, Executive Director (Planning), NHPC and BP Rao, Chief Engineer (Planning), NHPC.
In the signed MOU for NHDC, Generation Target for FY 2016-17 under ‘Excellent’ rating has been set as 3000 MU as against last year (FY 2015-16) Actual Generation of 2932.89 MU; Excellent Target for Revenue from Operations as Rs 1082 crores and Operating Profit as Rs 565 crores.
Further to ensure optimum utilisation of budget, CAPEX Programme of NHDC has been assigned 15 per cent weightage in the MOU 2016-17. In addition, targets regarding Reduction in Auxiliary Power Consumption, Reduction in claims against the Company, Trade Receivables, Dividend/PAT, PAT/Net Worth, Omkareshwar Project Reservoir filling up to MDDl i.e. El 193.54 M, have also been included.
NHDC limited, incorporated in the year 2000, is the largest Hydropower producing Company in the State of Madhya Pradesh having its 2 Projects - 1000 MW Indira Sagar and 520 MW Omkareshwar.