BHUBANESWAR: The Odisha Hydro Power Corporation (OHPC), a gold rated Public Sector Undertaking (PSU) of the State Government has signed memorandum of understanding (MoU) with the Energy Department on target specific achievements for 2015-16.
The MoU specifies different targets like annual generation, machine availability, renovation, modernisation and uprating (RM&U) of old power stations, gross profit and net profit to be achieved by the corporation during the current financial year.
Similarly, other technical and human resource criteria have also been fixed in the MoU. As per the corporate governance manual of Public Enterprises Department, the State PSUs are required to sign MoUs with the Government to perform efficiently in a self sustainable manner.
Director (Operation), OHPC, Aswini Kumar Mishra and Principal Secretary, Energy, SC Mishra signed the MoU here on Friday. OHPC has been consistently achieving its targets since 2011-12.