Agartala, Jul 7 (IANS): The state-owned North Eastern Electric Power Corporation Ltd. (NEEPCO) is on track to generate surplus electricity in the power-starved region within the next few years, an official said here Thursday.

"NEEPCO would add an additional 5,000 MW of power in northeast by the end of 12th Five Year Plan (2012-13 to 2016-17)," the firm's chairman cum managing director Prem Chand Pankaj told reporters.

"Currently, we are executing three hydro-electric and two gas-based thermal power projects in Arunachal Pradesh and Tripura with a total generation capacity of 920 MW," he added.

The corporation, set up in April 1976, operates five power stations -- three hydro-electric and two thermal -- in Assam, Arunachal Pradesh, Nagaland and Tripura, generating a total of 1,130 MW. It accounts for around 50 percent of the northeast region's installed capacity.

"NEEPCO would soon start commissioning of six more hydro-electric and one more coal-based thermal power projects with a total producing capacity of 2,500 MW in Assam, Meghalaya and Mizoram," Pankaj said.

NEEPCO, under the union ministry of power, posted a net profit of Rs.325 crore in the last financial year (2010-11).

During peak hours, the northeastern region, comprising eight states, needs 2,200 MW of electricity.

At present, the peak hour shortage is 12 percent. "After executions of the under commissioning power projects, the region will not only be fully sufficient in power supply, but will also be able to give power to other parts of India," he said.

According an official document of NEEPCO, northeast India has the potential to generate about 59,000 MW of hydropower. The region also has abundant resources of coal, oil and gas for thermal power generation.