India's electricity authority okays 1,400 MW of NHPC hydro projects

(SeeNews) - Jun 4, 2012 - India's National Hydroelectric Power Corp (BOM:533098), or NHPC, has secured the thumbs-up from the Central Electricity Authority (CEA) for its 600-MW Tawang-I and 800-MW Tawang-II hydropower schemes in the northeast state of Arunachal Pradesh.

The projects have also been granted environmental approvals by India's Ministry of Environment and Forests, the company said.

Last week, The Economic Times said that NHPC intended to spend INR 40 billion (USD 720m/EUR 579.4m) on hydropower projects in fiscal 2012/13 ending March 31. The business daily cited chairman and managing director A B L Srivastava as saying that the company planned to commission this year 1.2 GW of hydropower capacity spread among four projects.

NHPC reported a net profit of INR 27.71 billion for fiscal 2011/12, up 27.9% on the year. Revenue jumped 36% to INR 55.1 billion.

(INR 100 = USD 1.800/EUR 1.448)

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