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NTPC Limited has been given a capacity expansion investment target of ₹21,000 crores and revenue target of ₹98,000 crores under its annual memorandum of understanding (MoU) with the Ministry of Power. This goal is to be attained in fiscal 2020-2021.
The Public Sector Undertaking (PSU) was given a capital expenditure target of ₹20,000 crore in the MoU for fiscal 2019-2020.
Also read: NTPC still awaits Centre’s nod for hiving mines into new subsidiary
NTPC has reported a standalone annual revenue of ₹92,179.56 crores during fiscal 2019-2020. On a consolidated basis, the NTPC Group reported an annual revenue of ₹1,02,533.05 crores in fiscal 2019-2020.
An official statement said that the key targets for 2020-2021 under excellent category also include 340 billion of electricity generation and 15 million tonnes of coal production in addition to other financial parameters.
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This coal production target this fiscal is a steep increase from the MoU target for fiscal 2019-2020. Last fiscal, NTPC was supposed to generate 310 billion units of electricity and attain 10.4 million tonnes of coal production.
The signing of this MoU was also delayed by a few months this year in light of the Covid-19 pandemic this year. The MoU for fiscal 2019-2020 was signed in May 2019.
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The company is also looking at new avenues for fly ash managementAnother central PSU, SJVN aimed to achieve 9680 Million Units of electricity generation during the current year under the ‘Excellent’ category. The capital expenditure target of SJVN for the fiscal 2020-2021 was ₹2,880 crores and Turnover target was fixed at ₹2,800 crores under the annual MoU with the Power Ministry.
Power Grid Corporation of India Limited (POWERGRID) also signed its annual MoU with the Power Ministry on Tuesday. A Power Ministry official said that POWERGRID would share these targets after parliamentary approval and Gazette notification, which might take a few weeks.
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