Utpal Bhaskar / New Delhi December 16, 2005
Tehri Hydro Development Corporation Ltd (THDC) will start seven new projects at an estimated cost of Rs 5,766 crore, which will have a generation capacity of more than 1,000 Mw, over the next seven years.
The company has signed an agreement for implementing six projects with capacity of 695 Mw with the Uttaranchal government on November 21 this year.
The tariff for the generated power of the new six projects will be Rs 2 per unit and will be completed by 2012 at a cost of Rs 3,500 crore, R K Sharma, chairman and managing director, THDC told Business Standard.
The Uttaranchal government has allotted the hydro projects of Karmoli (140 Mw), Jadhganaga (50 Mw), Gohana Tal (60 Mw), Malari Jhelam (55 Mw), Jelam Tamak (55Mw) and Bokang Bailing (330 Mw) to THDC for development.
THDC is confident that it will have the revenues to internally fund the six new projects. Outlining the plans for the next decade, Sharma said the company expected to achieve an installed capacity of 4,135 Mw by 2015. The hydro player is also contemplating vying for projects out of Uttaranchal but ruled out any overseas project bidding.
THDC has also been asked to prepare a detailed project report (DPR) on Vishnugad- Pipalkoti hydroelectric project. The project has an estimated cost of Rs 2,266.87 crore and will have a capacity generation of 440 MW. It is scheduled to be completed by March 2011.
THDC also plans to construct a 1,000 MW pump storage plant (PSP) that will pump up water using the off-peak surplus energy from the Koteshwar dam to the Tehri dam. The project will cost Rs 1,799.67 crore has been cleared by Public Investment Board and will be put before cabinet soon.
While 30 per cent of the funding for the project will come as budgetary support and the rest will be in form of commercial loans with the Power Finance Corporation (PFC) being the main lender.
Construction on the Koteshwar project (4X100 MW) is under way and the project will be commissioned in March 2008 at a completion cost of Rs 1,565 crore.