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As part of its Rs 3,000 crore diversification plan to venture into solar and wind power projects, NHPC Limited (previously known as National Hydroelectric Power Corporation) is looking at feasible options in various states in the sector.
The company also plans to raise Rs 4,500 crore through private placement, but is waiting National Green Tribunal (NGT) clearance for the 2,000-Mw Lower Subansiri hydroelectric project at Gerukamukh along the Assam-Arunachal Pradesh border.
Following protests from pressure groups, the project has completely been stalled since December 2011 on grounds that seismic activity could pose a threat to people in downstream areas. The project was to be completed by 2012.
“The fund would be used to meet new expenditures. We are awaiting NGT clearance for Subansiri project,” said K M Singh, Chairman, NHPC. The company had completed nearly 70 per cent work on the project by December 2011, which was scheduled to go on-stream in December 2012.
On NHPC’s plans to meet its commitment of adding 430 Mw in five years in renewable energy, Singh said it has inked deals with Andhra, Tamil Nadu and Uttar Pradesh government to set up new solar and wind power projects. It has also agreed to join hands with the Maharashtra government, where it would enter into a tripartite agreement with the state government and those private players who surrender their land as stakeholders.
“The Maharashtra government has asked us to set up solar power projects wherein we can form joint ventures with private parties who will surrender land against the projects. The private parties can either be stakeholders against the valuation of their land or can sell the land to us in one go,” Singh told Business Standard.
In another venture, NHPC has joined hands with Uttar Pradesh government to develop a 50-Mw solar power project. The project will be executed through the state government’s Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA). “If they allot us land area we will move ahead on the project. We are expecting it to be allocated in a month,” he further said.
Singh was in town to participate in foundation day of NHDC Ltd, (erstwhile Narmada Hydroelectric Development Corporation), a joint venture of NHPC and Madhya Pradesh government.
The company has already reached the final stage of completion of a 50-Mw wind power project in Jaisalmer, Rajasthan. “We only have to sign a power purchase agreement with the Rajasthan government,” he further said. The company has also received a letter of intent to set up a 50-Mw solar power project in Tamil Nadu and has also signed a deal with Andhra Pradesh government for setting up 200-Mw project. but much will hinge on the feasibility study.
On two other projects, Singh clarified that his company has junked its floating solar power project in Kerala. “It would not be viable, our board has rejected the proposed floating solar project,” the chairman of the mini Navratna company said.
Also, he ruled out any plan to set up a 600-MW solar power project at the Koyna hydel power complex in Maharashtra as a section of media had “wrongly” published that the project was on the drawing board as a part of company’s expansion plan. “We have not taken up any such plan in Maharasthra,” Singh clarified.
Incorporated in the year 1975 with an authorized capital of Rs 200 crore, NHPC has was installed with an objective to plan, promote and organize an integrated and efficient development of hydroelectric power in India.
