Not the right time to say it; but sell hydel power stocks

Are the floods in Uttarakhand and the incalculable loss of life and property an end to hydel power projects in India? The government is putting up a brave front by saving that but for these dams, damages would have been more. Environmentalists, however, differ from these claims and say that the losses are on account of water being discharged from these dams simultaneously, which has aggravated the situation.
 
A Times of India report says that too many hydropower projects, underground tunnels, roads, encroachments on riverbeds by buildings coupled with deforestation could have worsened the impact of floods. There is no credible mechanism to assure compliance with environmental regulations, says the report.
 

 
Several Himalayan geologists have repeatedly expressed apprehension against the massive road and dam-building construction activity taking place in Uttarakhand which had resulted in the hillsides crumbling. Large-scale and indiscriminate construction in landslide-prone area has left little space for the river to flow. Thus, heavy rains leads to extensive flooding. 
 
Floods in Uttarakhand have increased over the years since the creation of these dams. People in low lying villages have not been shifted over the years despite repeated warnings. The central government has not heard cries from the people in mountains, claim environmentalists.

However, this time around even Delhi has been affected. Hathani Kund Barrage has discharged a record 8.06 lakh cusec flood discharge - the highest ever in the history of Yamuna river. This is likely to result in Yamuna, the river that flows through Delhi, reaching a record high of 207.5 metres, way above the flood danger mark.
 

Such wide scale devastation is likely to raise questions over further environmental clearances. The environment minister has diplomatically cleared the water from under her feet by saying this is not the right time to discuss clearances and we should be concentrating on relief work instead.

 
As the water settles and the true picture of losses is ascertained, voices of environmentalists are likely to get shriller. This will put all projects existing as well as new ones on the watch list. In such a scenario, it is wiser to stay away from companies running and building hydel power units irrespective of their area of operation.