State-owned power giant NTPC is aiming to produce 10.4 million tonnes of coal to strengthen fuel supply to power plants, and spend Rs 20,000 crore on capital expenditure in the current financial year. It also aims to produce 310 billion units (BU) of electricity.
In a statement, the company said it has inked a memorandum of understanding (MoU) with the central power ministry on various targets to be achieved in 2019-20 in order to strengthen operations. The MoU was signed by NTPC Chairman and Managing Director Gurdeep Singh and Power Secretary Ajay Kumar Bhalla.
As part of the deal, NTPC said it shall ensure operational efficiency and incorporate measures to ensure upgradation of relevant technological parameters in line with the Central Public Sector Enterprise (CPSE) Conclave, in addition to continuous project monitoring and human resource management across its project sites. The firm also aims to increase its revenue by 12 per cent by employing measures to strengthen financial performance for 2019-20.
“With a mission to provide reliable power and related solutions in an economical, efficient and environment-friendly manner, driven by innovation and agility, NTPC consistently works towards accelerating power development in India,” it said in a statement.
NTPC has recorded a gross generation of 305.90 BU during 2018-19, as against 294.27 BU in the previous year, thereby registering an increase of 3.95 per cent. The company has an installed capacity of 55,125 MW currently.