OHPC signs MoU with Department of Energy, Odisha

Odisha Hydro Power Corporation Ltd. (OHPC), a Gold rated PSU of Govt. of Odisha has signed Memorandum of Understanding (MoU) for the FY 2015-16 with the Department of Energy, Govt. of Odisha on 1st May 2015.

Sri Aswini Kumar Mishra, Director (Operation), OHPC signed the MoU with Sri Suresh Chandra Mahapatra, IAS, Principal Secretary, Dept. of Energy, Govt. of Odisha in presence of Sri Rajesh Sharma, Director (HRD) & Sri Santosh Kumar Sahu, Director (Finance) and other senior officials of OHPC & Dept. of Energy.

The MoU specifies different targets like Annual Generation, machine availability, RM & U of old power stations, Gross profit and Net profit etc. to be achieved by the Corporation during the FY 2015-16 which shall be monitored and reviewed on quarterly/ half yearly basis by the Energy & P.E. Dept. jointly.Similarly other Technical, Human Resource criteria has also been fixed in the MoU.

The MoU is being signed w.e.f. FY 2011-12 onwards to make the Public Sector Units perform efficiently in a self sustainable manner as per the Corporate Governance Manual issued by PE Dept., Govt. of Odisha for the State PSUs. OHPC has been consistently achieving its targets since FY 2011-12.