NHPC to tap into overseas funding

NHPC to tap into overseas funding

State-run power producer NHPC is hoping to tap lending institutions based abroad in order to raise funds for its hydel power capacity expansion projects, in an effort to beef up its hydel power production capacity by nearly a third to ten gigawatt by 2022.

NHPC’s current generation capacity stands at around 7.1 GW,  and the company is looking to shell out a capital expenditure of up to Rs 3,800 crore for the financial year ending March 2020. The company has spent a capex of around Rs 2,000 crore in the previous financial year ended March 2019.

“The government has recognised large hydropower as renewable energy which might help us access cheaper funding from multilateral lending institutions,” said Balraj Joshi, chairman and managing director at NHPC.  Read More

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