Read Time:1 Minute, 57 Second
New Delhi, August 31, 2024: NHPC Limited has been accorded with the prestigious status of ‘Navratna’ company by the Government of India.
As per order issued by Department of Public Enterprise (Ministry of Finance) on 30.08.2024, NHPC has been declared a ‘Navratna Company, thereby giving it greater operational and financial autonomy, sources in the Union Ministry of Power said.
“This is a truly historic moment for the NHPC family and recognition of our remarkable financial and operational accomplishments,” NHPC CMD R K Chaudhary said.
He expressed gratitude on behalf of the NHPC family to the Ministry of Power for their unwavering trust in NHPC and their support which has resulted in conferring Navratna status to NHPC by Government of India, the sources said.
“NHPC has been an important player in the Indian power sector and has played a key role in tapping the hydropower potential of the country. We are a complete green power company which has also diversified in wind and solar energy options,” Chaudhary said.
The conferring of Navratna status brings forth key advantages to NHPC. It will enable faster decision-making, increase efficiency and empower employees.
It will support major CAPEX and investment plans, drive growth, expand market reach and achieve long-term gains.
NHPC will have enhanced powers to establish joint ventures and overseas offices, access new markets and leverage local expertise.
Additionally, it will foster innovation by furthering technological alliances and strengthening market positioning. It will also facilitate mergers and acquisitions leading to growth and increased market share.
Currently, NHPC’s total installed capacity is 7144.20 MW and the company is presently engaged in the construction of projects aggregating to 10442.70 MW. These include the 2000 MW Subansiri Lower project (Assam/ Arunachal Pradesh) and 2880 MW Dibang Multi-purpose project (Arunachal Pradesh).
At present, NHPC is working on more than 50000 MW capacity projects which are under various stages of development. NHPC is steadfastly working towards achieving an installed capacity of 23000 MW by 2032 and 50000 MW by 2047.
