A government official has revealed that the company is likely to sign the agreement in about a month.
"Orissa government wanted to include a whole-time director in the company, NHPC doesn't want to do that...The issue is likely to get resolved and the company would sign the agreement in a month's time," he said.
The company plans to set up three hydro power projects with a combined capacity of 300 MW at Sindol (Sindol I,II,III) near Dhenkanal in Orissa, said the official.
NHPC would be the majority partner in the joint venture with 51 per cent stake and the rest 49 per cent would be held by the Orissa government.
Hydro power generation capacity of Orissa stands at 2065.4 MW, Hirakud (331.4 MW), Balimela (360 MW), Rengali (250 MW), Upper Kolab (320 MW), Upper Indravati (600 MW) and Machhkund (54 MW), as per government data.
NHPC has a current power generation capacity of 5,322 MW and the company is planning to augment this capacity to about 10,000 MW by the end of the current Five Year Plan Period (2007-12).