New Delhi: The Government of India has accorded ‘Navratna’ status to the National Hydroelectric Power Corporation (NHPC), thereby giving it greater operational and financial autonomy. The Department of Public Enterprise under the Ministry of Finance issued an official order to declare the same.
Navratna firms are distinguished as Public Sector Undertakings (PSUs) that have attained exceptional operational and financial achievements. They have a significant power to carry out projects worth up to Rs 1000 crore without requiring authorization from the Central Government. NHPC has been given the status considering its remarkable role in tapping the hydropower potential of the country. In addition, the company has also diversified in wind and solar energy options.
The conferring of Navratna status has the following key advantages for NHPC:
- It will enable faster decision-making and increase the efficiency of the employees.
- It will support major CAPEX and investment plans and boost the market reach of the company.
- The company will get enhanced powers to establish joint ventures and overseas offices thereby getting access to newer and wider markets.
- It will help promote innovation by facilitating technological alliances.
- It will also foster the company’s growth by furthering mergers and acquisitions.
The current installed capacity of NHPC is 7144.20 MW. The company is presently engaged in the construction of projects with a total capacity of 10442.70 MW. These include the Subansiri Lower project (Assam/Arunachal Pradesh) with a capacity of 2000 MW and the Dibang Multipurpose project (Arunachal Pradesh) with a capacity of 2880 MW. NHPC is steadfastly working to achieve the goal of installing a capacity of 23,000 MW by 2032 and 50,000 MW by 2047.
