RPG group company CESC Ltd today announced its foray into hydel power generation in Arunachal Pradesh by constructing a 90-MW hydel power project at a cost of Rs 630 crore.
CESC vice-chairman Sanjiv Goenka said the company had signed an MoU with the Arunachal Pradesh government for construction of the 90-MW Jarong Hydro Electricity project in West Siang district, which is expected to be commissioned in 2015-16.
The company does not forsee any hurdle in securing the environmental clearance within 15 months, Goenka said adding despite construction of a diversion barrage there would be no submergence of any village.
He said the company was also looking for inorganic growth in hydel projects in the north and Northeast India to increase its total hydel capacity to 500 MW in the next 5-6 years.
"We are holding discussions, but I cannot divulge anything more now. The project will be financed on 70:30 equity basis and financial closure will be achieved within 18 months," he said.