NHPC plans African foray; to appoint advisor for biz strategy
The country's largest hydro power producer NHPC, which is looking to foray into African markets, plans to appoint a consultant to advise the company on its business strategies.business Updated: May 29, 2011 16:52 IST
The country's largest hydro power producer NHPC, which is looking to foray into African markets, plans to appoint a consultant to advise the company on its business strategies.
"The company will be appointing a consultant or consultants to advise on business strategies. The appointment is likely to be made in the next two to three months," a senior NHPC official said.
"We are in the process of making a policy regarding our overseas plans and the proposal will soon be put before the board for approval," the official said.
According to him, the company is actively looking to enter Nigeria and Kenya, among other countries.
The company is in the process of setting up power projects in neighbouring countries such as Bhutan, Myanmar, Nepal and Tajikistan.
Last week, NHPC entered into a Memorandum of Understanding (MoU) with Russian power generator JSC RusHydro for co-operation in hydropower projects in India and foreign countries.
The official said the MoU is for general purposes and both entities would look at possible areas of co-operation.
Another NHPC official said the company is exploring ways to tap the international market and could look at possible business opportunities in South Africa and Vietnam.
NHPC has signed an agreement with Mangdechhu Hydropower Authority, Bhutan for providing engineering and design consultancy services to 720 MW Mangdechhu hydroelectric project in that country.
The firm is carrying out investigations and is preparing Detailed Project Reports (DPRs) for 1,200 MW Tamanthi and 642 MW Shwezaye Hydropower and multi-purpose projects in Myanmar.
The state-run company has an installation base of 5,175 MW from 13 hydropower stations, including joint venture initiatives. Currently, NHPC is engaged in construction of 11 projects having a total installed capacity of 4,622 MW, according to its website.
NHPC aims to add over 10,000 MW of hydropower capacity by by 2017.