Hydro Power
Energy generating giant of global repute are currently vying with one another for forging joint ventures with the NHPC, a mega hydro power generator, which is setting up over 17 hydro projects across the country. Player including Reliance Power, Gammon India, KSK Energy, Lanco, GMR, have evinced interest in joining hands with power NHPC for rehabilitation of some of its hydro projects that are stuck due to shortage of funds and lack of technical expertise, Director, Finance, ABL Srivastava said adding that in the joint venture, NHPC will hold majority stake (51%) in companies where it agrees to form the JV, final decision on quantum of equity to be held by us will be taken shortly after the player finalizes the concession agreement for the JV projects.

According to sources, the private project developers have told NHPC that their projects are already in JV with Sate governments and hence it should relax its condition to hold 51% equity in such projects. The company is looking into all these aspects and will address the issues in the final document. NHPC, which itself is struggling to complete its projects on time due to delays in clearances and other political issues, sees JV as an exercise where it can accelerate hydro capacity addition in the country as it aims to add at least 4,000 MW of capacity through this route in 12th Plan period. These projects were allocated by various state governments to private players on the basis of financial commitments and promise of free power to sections of consumers. The proposed arrangement is expected to come handy as the PSU to regain control of a few projects that were taken away from it by the state governments in favor of private sector developers.