New policy injects Rs. 31,000-cr in hydropower sector
The government has announced a new hydropower policy with approval for four power projects worth Rs 31,000 crore. The move will help India meet its climate change targets since hydropower is counted as a renewable energy source. All the 41 hydropower projects in the country, aggregating to 11792.5 MW, are running behind schedule. The total cost overrun for these projects is estimated to be Rs.45,240.67 crore. This has nearly doubled the total cost of these projects to over Rs.1.03 lakh crore for reasons such as local agitation, bad geology, flash floods, water ingress, delayed forest and environment clearances and land acquisition. In many cases, cash flow problems with contractors has led to delays. NHPC’s 2000 MW Subansiri Lower project in Arunachal Pradesh/Assam have the highest cost overrun of Rs. 17435.15 crore, an increase of Rs.11149.82 crore with a 10 year time overrun in the commissioning. Similarly, the largest delay is in the 400 MW Maheshwar hydropower project in Madhya Pradesh, which was to be developed by Shree Maheshwar Hydel Power Corporation as the country’s first large private hydropower project.
📅Published on:
10 April 2019
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