NTPC eyeing 248 billion unit power generation in FY17

State-owned NTPC on Tuesday said it will strive to generate 248 billion units during the current financial year.

"NTPC...signed a Memorandum of Understanding (MoU) with Government of India for the year 2016-17...According to the signed MoU, NTPC shall strive to generate 248 billion units during the year under "excellent" category," the company said in a statement.

Further, NTPC has a capital expenditure (CAPEX) target of Rs 30,000 crore under Excellent category, the statement said.

Moreover, parameters related to operational efficiency, projects monitoring and financial performance are also part of signed pact in line with MoU guidelines of Department of Public Enterprises, it said.

The MoU was signed by Power Secretary Pradeep Kumar Pujari and NTPC CMD Gurdeep Singh.

NTPC is fulfilling power needs of the country through 18 coal-based, seven gas-based, one hydro-based, nine renewable energy projects and nine JVs/subsidiaries.

The company has a total installed capacity of 47,178 MW at present.