PSU firm NHPC has set a revenue target of Rs 15,000 crore for FY25, 20% higher than FY22, in an environment of growing electricity demand in the last two years. Profit is also expected to rise by more than 42% over the next three years to Rs 5,000 crore, up from Rs 3,500 crore in FY22.
NHPC’s Rajeev Kumar Vishnoi attributes this sharp growth forecast to the continued growth in electricity demand, which has increased over the past 17-18 months. Several months have even witnessed growth rates of 10%.
Vishnoi further said that the NHPC expects a surge in demand this year, and the government is doing enough to ensure peak demand is met. With the increase in river flow, power generation should increase by 7-8%, and the company is looking to store it.
In addition, NHPC plans to add two units at Subansiri in Q1FY24 and two more units every three months. Two units will be added at Parvati in the last quarter of FY24, and the company is working on another five projects with Subansiri and Parvati. NHPCs, excluding Subansiri and Parvati, have a total capacity of 7,000 MW.
Furthermore, NHPC’s Dibang project, which will cost about Rs 34,000 crore in total, will start construction this year, Vishnoi said. The company plans to commission the first unit within nine years. With these ambitious goals and upcoming projects, NHPC is well-positioned for a bright future in the power industry.