NHPC has identified the projects for achieving the 44,000 mw target, but the mammoth dues from various state electricity boards (SEBs) were a cause of great concern to the corporation, he said. NHPC's outstandings with 15 SEBs currently stands at Rs 2,785 crore,Prasad said. This is a bleak scenario as pay-out compulsions of the Fifth Pay Commission have put states' finances in a very bad shape, Prasad said. "Though NHPC has been able to realise Rs 987 crore from beneficiary states which comes to more than 80 per cent of the total bills during the year, mounting dues from the SEBs are putting a strain on the company's balance sheet," he said.

Prasad said the operating power stations have generated 9917.20 MUs as against a target of 8520 MUs units during 1998-99. NHPC will take up the 2051 mw Parbati stage-II and 510 mw Teesta projects through the joint venture route, Prasad said. For these projects the corporation has received 10 bids from various private parties including multinational companies namely ABB, Alstom, VA Tech and Electricity Dele Portugal, he said. While the Parbati project is awaiting techno-economic clearance from central electricity authority (CEA) the teesta project has got the tec, Prasad said. For these two projects involving a total cost of Rs3,500 crore, NHPC wants to offer majority control to private sector partners. NHPC wants to hold a minimum of 26 per cent in these projects, the CMD said. Hydro projects which are highly capital intensive and NHPC which is dependent to a large extent on budgetary support does not have the requiste resources to put in as equity. Funds have to either come from Government support or through the joint venture partner, he said.