Welcoming the Centre's decision, Bahuguna said it would pave the way for early start of construction work on the long-awaited project, which is proposed to be completed by 2016.
He said the project is vital for the state as it has the potential to make the state self-reliant in terms of power.
The ambitious project, hanging fire for quite a few years due to various reasons, will generate 375.24 million units of power per year which will prove to be a milestone in the development of the state, the Chief Minister said.
Uttarakhand Jal Vidyut Nigam Ltd, a state government undertaking, is to implement the project which was given environmental clearance wayback in 2007, UJVNL Managing Director G P Patel said.
