A highly-placed source in NHPC told The Financial Express that NHPC could have earned more profits but for the surplus workers. The corporation's net profit went up to Rs 563 crore in 1997-98 against Rs 300 crore notched in the previous fiscal.

The source said NHPC, which was set up in 1975 with an authorised share capital of Rs 5000 crore, is today among the top 10 companies in the country in terms of investment of over Rs 10,000 crore.

The corporation has so far commissioned 22 units with a total installed generating capacity of 2133mw in various states and Union territories.

In Jammu & Kashmir, NHPC has executed Salal-I and Salal-II projects with an installed capacity of 345mw each. Besides, NHPC has completed the Uri projectin the state with an installed capacity of 480 mw.

The source said that in the Ninth Plan period NHPC's three projects -- Dul Hasti (39mw) in Jammu & Kashmir, Rangit (60mw) in Sikkim and Dhauliganga (280mw) in Uttar Pradesh -- will be ready.

He also said that three more projects are awaiting techno-economic clearance. They are: Dhauliganga (210mw), Goriganga stage-IIIA (120mw) and Goriganga stage III-B (20mw) in Uttar Pradesh.The corporation has taken up Bhutan's Kurichu project (45mw) and Andaman & Nicobar's Kalpong project (5.26mw) on a deposit and turnkey basis.

According to the source, India has an estimated hydro-power potential of 84044mw at 60 per cent plant load factor, the bulk of which remains to be tapped.Referring NHPC's activities in the neighbouring countries abroad, the source said that the 14.1mw Devighat project in Nepal was commissioned in record time of three -and -a -half years.

NHPC has also completed the Nuwakot rural electrification project in Nepal covering 64 villages alongwith substations and connected lines one year ahead of schedule.