State-owned power producer NTPC on Wednesday announced that it had signed a memorandum of understanding (MoU) with the Union Ministry of Power, setting key targets for the year 2020-21. These include the target of generating 340 billion units of electricity and capital expenditure of Rs 21,000 crore.
Among other important targets detailed in the MoU are 15 million tonnes of coal production and Rs 98,000 crore of revenue from operations.
The company had last week announced that it had received its shareholders’ approval to raise up to Rs 15,000 crore through issuance of bonds. The funds are proposed to be raised on a private placement basis in one or more tranches not exceeding 30, according to the company’s notice for the annual general meeting held on September 24.
“The special resolution for AGM which proposed to make offers or invitations to subscribe to the secured/unsecured, redeemable, taxable/tax-free, cumulative/non-cumulative, non-convertible debentures up to Rs 15,000 crore, was passed with requisite majority in the AGM,” NTPC had said in a BSE filing on September 25.
