NHPC board approves proposal to raise Rs 2,000-cr corporate bonds

NHPC CMD K.M.Singh

STATE-owned NHPC's board has approved a plan of raising Rs 2,000 crore through corporate bonds on a private placement basis.
"The board of directors of NHPC Ltd at its meeting held on July 27 has considered and approved the proposal of raising corporate debentures/bonds aggregating Rs 2,000 crore instead of Rs 5,000 crore on a private placement basis subject to...
shareholders' approval through special resolution at the next annual general meeting of the company," the MIniratna power PSU said in a filing to the BSE on July 28.
NHPC Ltd was incorporated in 1975 with an authorised share capital of Rs 2,000 million and with an aim to plan, promote and organise integrated and efficient development of hydroelectric power.
NHPC later expanded its ambit to include development of power in all its aspects through conventional and non- conventional sources in India and abroad.
Recently, NHPC inked power purchase agreements for seven power stations like Bairasiul, Salal and Tanakpur with BSES Rajdhani Power Ltd (BRPL) for 35 years from start of their commercial operations.
The agreement is for the time period of 35 years from the date of commercial operation (COD) of the respective power stations.
This agreement was in respect of seven power stations namely Bairasiul, Salal, Tanakpur, Chamera-I, Uri-I, Sewa-II and Chamera-III.