THDC to invest Rs 13000 cr in Kalai II project in Arunachal
PrashantNews
THDC India Ltd, a leading power sector company, on Wednesday said it would invest Rs 13000 crore in the 1200 Mw Kalai II hydroelectric project in Arunachal Pradesh which it acquired from Reliance Power.
Reliance Power had inked an agreement to sell its Kalai II hydroelectric project for Rs 128.39 crore to THDC. The purpose of entering into the agreement was to monetise the hydroelectric power project, Reliance Power had said in a regulatory filing on December 31.
Under the pact, there will transfer of the development rights and associated physical assets, studies, clearances, designs and intellectual properties of the proposed 1,200 MW Kalai-II hydroelectric project located at the Lohit river basin of Arunachal Pradesh to THDCIL for an aggregate consideration of Rs 128.39 crore, subject to certain indemnities, representations and covenants, Reliance Power said.
When contacted, L P Joshi, Executive Director THDC said an investment of Rs 13000 crore is required for the construction of the Kalai project. The project was allotted to Reliance Power by the Manipur government in 2010. “Some clearances of the project are still pending,” Joshi said.
THDC has been fast expanding its business in the hydropower project Last month, in a significant move to expeditiously exploit the vast hydropower potential in Uttarkhand, a new joint venture — THDC-UJVNL Energy Company Ltd — was formed with the state government allocating five major projects totally 1719 Mw with an investment of Rs 17000 crore.
Speaking to PrashantNews, UJVN Managing Director Sandeep Singhal had stated that THDCIL will have the majority 74 percent stakes in the new joint venture company and the rest of the 26 percent will be shared by UJVN.
R K Vishnoi Chairman-cum-Managing Director of THDC said the pivotal development of forming the joint venture took place during the energy conclave of Dec 5 in Dehradun.
Both Vishnoi and Singhal thanked Chief Minister Pushkar Singh Dhami for allocating five major projects totaling 1719 Mw to the new joint venture company. This is the first such joint venture between two power producing companies in the hydropower sector of the hill state having potential to produce more than 25000 Mw of green power.
The five projects include 63 Mw Mori Hanol in Uttarkashi district, 280 Mw Urthing Sobla and 146 Bogudiyar Sarkari Bhiyo in Pithoragarh district,600 Mw Pungarh Matiyala pump storage plant in Tehri district and 630 Mw Jaspalgarh pump storage plant in Pauri district. A substantial investment of Rs 17000 crore is expected in these five projects which will create 9000 employment opportunities, Vishnoi said.
After the 2013 Kedarnath deluge, the hydropower sector took a beating after nearly two dozen hydropower projects were suspended.
“Our emphasis on clean energy aligns with the global efforts toward achieving net zero emission targets highlighting the crucial role these projects play in advancing substantial and environmentally responsible energy solutions,” said a top government official.
A top UJVN official made it clear that the new joint venture will be a separate and new company. The terms and conditions of the new company are being finalized, he said. Ends
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Very positive news. It also proves that major business groups like Reliance also fails in project management. Unnecessary 14 years have been wasted. THDCL and UJVN should be given all support for making Uttrakhand and Arunchal Pardesh in achieving self independence in power sector