NHPC is in early stage of talks with private players to form joint ventures for developing hydel power plants as a move to fast-track several of its projects facing delays.
"The company is in preliminary talks with private companies to form joint ventures (JVs) for executing hydro power projects," NHPC Chairman and Managing Director ABL Srivastava told PTI in an interview.
However, he did not disclose names of the private companies.
He said the company is working on a concept paper regarding plans to form joint ventures with private entities.
NHPC would be a minority partner in the JVs so that they are not treated as government entities.
Sources said it is a smart move by the company to ensure that its projects do not face bureaucratic hurdles.
"We are preparing a concept paper. It would go to the Board for approval. We are not keen on picking up majority stake in joint ventures...," Srivastava said.
Among the leading private players in hydro power sector are GMR Energy, GVK, Tata Power, JP Hydro and Reliance Power.
Currently, NHPC has an installed capacity of more than 5,100 MW.
Some of its projects such as 520 MW Parbati in Himachal Pradesh and Uri in Jammu and Kashmir are getting delayed due to various factors including local issues.
As part of efforts to diversify its portfolio, Srivastava said the company is also looking for thermal power projects to be developed in association with state governments.
"We are in talks with various state governments such as Jharkhand and Orissa for jointly executing thermal power projects. The discussions are at initial stages," he noted.
The company has already has an initial agreement with Madhya Pradesh government for setting up a 1,320 MW thermal project.
NHPC plans to commission 1,200 MW of capacity during the current financial year, including spill-over from the last fiscal. Over 21,000 MW capacity of the company is under various stages of implementation, according to its website.