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To add five projects in FY11: NHPC
SK Garg, CMD, NHPC, says there is no under-recovery from Dulhasti. "The project is making profit." For FY11, he says the company is going to add five projects. He also does not see any further equity raising requirements.
Q: Specifically for the FY11 period though what kind of addition are you scheduling in because people are a bit wary because there was not much capacity addition this year? So for FY11, what is the target?
A: For FY11, we are going to add five projects with a capacity of almost 700 megawatts. Three are coming in Jammu and Kashmir, one is coming in Himachal and other is coming in West Bengal, so these are five projects we are going to commission in 2010-11.
Q: Any further fund raising you will require in that case, you just closed up the initial public offering (IPO), but for these five projects will you need to raise any equity?
A: Not at all. We do not need any equity raising further because at present we are cash rich, we have already tied up our debt funding also apart from that we are quite comfortable so far the equity portion is concerned. So we are not looking forward to go for any further raising of equity in the market for the time being.
