The country's largest hydro-power producer, NHPC, today said it will commission two projects, including Teesta in West Bengal, by December this year which will raise its generation capacity by over 250 MW.
"We plan to commission one of the Teesta hydro-electric projects of 132 MW by December this year and also 120 MW Sewa-II project in Jammu & Kashmir," NHPC Chairman and Managing Director S K Garg told reporters here.
On company's proposed public offering, which has been put off several times, he said the IPO (Initial Public Offering) has been put on hold till market conditions stabilise.
The company had proposed to come out with a public issue to raise Rs 1,670 crore in October last year for funding its expansion programmes, but it was forced to shelve plans due to volatile market conditions.
NHPC is looking at domestic bankers for raising money. "Though we are comfortable right now, we are in talks with domestic bankers (both public and private) for raising capital," Garg said.
The company has already tied-up debt of about Rs 4,000 crore with state-run Power Finance Corp (PFC) and nearly Rs 6,500 crore with Life Insurance Corp (LIC) for funding its power projects during the current plan period (2007-12).
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NHPC plans to set up two projects in Myanmar to harness the neighbouring country's hydro potential.
"We hope to work on big projects (1,200 MW and 640 MW) in Myanmar and are discussing the probability with them (Myanmar)," Garg added.
The company plans to set up 1,200 MW Tamanti project and 640 MW Shwezaye hydro power project in Myanmar.
NHPC plans a capital expenditure of Rs 28,000 crore in the 11th Five-Year Plan (2007-12) to double its power generation capacity to roughly 10,000 MW. It does not intend to make any changes in its capex in the wake of global downturn.
"Our capex plan has not been affected by the slowdown," Garg added.
NHPC accounts for over three per cent of the country's total installed power generation capacity of nearly 144,000 MW.