State-run hydroelectric power producer NHPC has lined up whopping Rs 90,000 crore investment in the next 10 years to augment its power generation capacity and to become 11,000 MW company.
"We are planning an investment of Rs 90,000 crore in over the next decade to increase the generation capacity," NHPC Chairman and Managing Director S K Garg told PTI.
The present electricity generation capacity of the company is 5,300 MW and it plans to add another 5,800 MW of power in the XIth Five Year Plan (2007-12), which accounts for 35 per cent of the total hydro power capacity addition during the period.
Hydro power is one of the best sources of power present in the country, "Hydro power is liquid gold, it is economically and environmentally the best option available in the country," Garg said.
Meanwhile, the company plans to raise Rs 11,000 crore through its Initial Public Offering (IPO) and the remaining Rs 17,000 crore via internal accruals.
The board members of the company would meet on August 5, NHPC is planning to hit the market for a long time but the process got delayed due to the lack of six non-official directors on its board, a condition mandatory for a company to go public.
It plans to file a revised Draft Red Herring Prospectus (DRHP) with market regulator SEBI next month and is most likely to hit the market in September.
It is at present implementing country's largest hydroelectric project, 2,000 MW Subansiri Lower Project in Arunachal Pradesh.
