UJVN, THDC form joint venture

UJVN, THDC form joint venture

PrashantNews

In a significant move to expeditiously exploit the vast hydropower potential in Uttarkhand, a new joint venture — THDCIL-UJVNL Energy Company Ltd — has been 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 said 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 India Ltd 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