Wednesday, June 15, 2011

NHPC incorporates JV with PTC, J&K State Power Development Corporation for hydroelectric power projects

     NEW DELHI: State-run NHPC incorporated a joint venture company with Jammu & Kashmir State Power Development Corporation Ltd and PTC India Ltd to implement 2,100 mw hydroelectric power projects in the state.

The joint venture company - Chenab Valley Power Projects - would set up Pakal Dul and other hydroelectric projects of 2,100 mw capacity in Chenab river basin of Jammu and Kashmir, NHPC said in a regulatory filing on Tuesday.

NHPC had in December last year inked a promoter's agreement with Jammu and Kashmir State Power Development Corp and PTC India for setting up the new entity.

Jammu and Kashmir State Power Development Corp and NHPC would own 49% stake each in the joint venture firm while the remaining shareholding would be with PTC India.

NHPC plans to invest Rs 5,090 crore in the current financial year toward 10 projects with 4502-mw capacity. The company is preparing detailed project reports for seven projects, having a total capacity of 2,485 mw.

The company's four projects with 1,080-mw capacity are likely to become operational this year. The company has been able to add only 2,200-mw during 2007-12 against the targeted 5,300-mw.    

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