National Hydroelectric Power Corporation Limited (NHPCL) will foray into the renewable energy sector by setting up wind energy parks in different parts of the country including Karnataka.

Though the NHPC’s core function is to tap hydro energy, the company is keen to utilise its expertise in wind energy also, S K Garg, chairman of the company told reporters here on Wednesday.

The NHPC’s subsidy company Narmada Hydro Development Corporation (NHDC) is setting up two wind power projects in Madhya Pradesh. Based on the success of these projects, the company might venture setting up similar projects in other high wind energy states like Karnataka and Tamil Nadu, he said.

Robust growth

Meanwhile, the company registered robust growth in 2007-08 after making Rs 1,002 crore net profit against Rs 924 crore in the last fiscal.

The company achieved an all time high sales turnover of Rs 2,311.47 crore, compared to Rs 1,962.76 crore during 2006-07. 

Taking note of the company’s high performance in energy sector, the Centre has conferred a mini ratna status.
The company was planning to come up with an IPO in August this year to mobilise funds towards its future projects, he said.