"Cabinet approves Rs 5,282 Crore to revive J&K hydro project"


21Jan,2021

"Cabinet approves Rs 5,282 Crore to revive J&K hydro project"

The Cabinet on weekday approved associate investment of Rs five,282 large integer in building the 850 mega watt (MW) Ratle hydro-electric project on the Chenab stream in Jammu and geographical region, signalling the Centre’s revived efforts to spice up investments within the militancy-infested natural depression. The project are put together developed by the National electricity Power Corporation (NHPC) and Jammu and geographical region State Power Development Corporation (JKSPDCL), with equity contributions of fifty one and forty ninth, severally.The Centre can give a grant of Rs 776.44 large integer to JKSPDCL for its equity contribution within the venture. NHPC can invest its Rs 808.14-crore equity from its internal resources. Secunderabad-based GVK Industries was earlier awarded the project development contract for the Ratle hydro plant and JKSPDCL had signed an influence contract (PPA) with the corporate in Gregorian calendar month, 2010. Former Prime Minister Manmohan Singh and UPA presiding officer Sonia Gandhi had arranged the inspiration stone for the Ratle project in 2013The Centre expects Jammu and geographical region to induce free power price Rs five,289 large integer and water usage charges price Rs nine,581 large integer from the hydro project throughout its project life cycle of forty years. the cupboard, on weekday, additionally approved the sign language of note of understanding between Republic of India and Republic of Uzbekistan for cooperation within the field of solar power.To make the project viable, Jammu and geographical region can exempt it from paying water usage charges for ten years when authorisation. The Union territory will part predate the twelve-tone music free power that host states of hydro power plants usually receive. Jammu and geographical region can get I Chronicles free power within the 1st year, bit by bit rising to receive twelve-tone music free power within the twelfth year.