NHPC Bags Prestigious 'Navratna' Status

New Delhi- The government of India has given the prestigious status of 'Navratna' company to NHPC (National Hydroelectric Power Corporation) Limited. This has been announced by the Ministry of Public Enterprise (Ministry of Finance) after the issuance of an order on August 30.

The Ministry of Finance said that this will not only give NHPC greater operational and financial autonomy but also enable it to faster decision-making, increase efficiency, and empower employees. In addition, this will also support the company's growth in the market.

Under the 'Navratna' status, NHPC will be able to establish joint ventures and overseas offices, access new markets, and leverage its local expertise. It will also be able to promote innovation through technological collaborations and strengthening its market position. It will also facilitate mergers and acquisitions leading to growth and increased market share.

At present, the company has a total installed capacity of 7144.20 MW and is currently engaged in the construction of projects aggregating to 10442.70 MW. The company is working on more than 50000 MW capacity projects which are under various stages of development. With the help of the new 'Navratna' status, NHPC aims to achieve an installed capacity of 23000 MW by 2032 and 50000 MW by 2047.