The Union Cabinet Thursday approved state-owned NHPC taking over debt-laden Lanco's 500 MW Teesta hydro-electric power project in Sikkim, Finance Minister Arun Jaitley said.
Briefing reporters on the decision taken by the Union Cabinet headed by Prime Minister Narendra Modi, he said NHPC has also been allowed to spend Rs 574.04 crore to complete balance work at the project.
The project would generate 2,400 million units.
Teesta Stage-VI hydro-electric project is a run of river (RoR) scheme in Sirwani Village of Sikkim to utilise the power potential of Teesta river basin in cascade manner.
The project shall help in meeting peaking demand of energy, balancing and ramping requirement of the grid.
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