Hydro-electric power producer NHPC today said it would form a joint venture with the Orissa government for setting up power projects in the state.
"We are shortly going to sign a memorandum of understanding (MoU) with the Orissa government for setting up power projects in the state... 51 per cent share would be ours," NHPC Chairman and Managing Director S K Garg told PTI in an interview.
The company would enter into an agreement with the state government for developing power plants and conducting repair and maintenance works for the projects in Orissa. The financial aspects and power sharing modalities will be discussed at a later stage, he said.
"We have already submitted the draft and they (Orissa government) are reviewing it... The decision is expected any time soon," Garg added without divulging further details.
The company had earlier said, it would commission one of the Teesta hydro-electric projects of 132 Mw in West Bengal and 120 Mw Sewa-II project in Jammu and Kashmir by December this year, thereby raising its generation capacity by over 250 Mw. Its present installed capacity is 5,175 Mw.