New Delhi, Aug 12 (PTI) As many as 12 stalled hydropower projects of more than 11.5 GW generation capacity in Arunachal Pradesh have been handed over to state-owned firms, the Power Ministry said on Saturday.
These hydropower projects are expected to attract investment of about Rs 1.26 lakh crore to Arunachal Pradesh, the ministry said in a statement.
The Government of India and the Government of Arunachal Pradesh have come together to rejuvenate and execute 12 stalled hydroelectric power projects in the state, the ministry said.
Towards this, Memoranda of Agreement (MoAs) have been signed in Itanagar on Saturday wherein 12 hydro-electric projects of cumulative installed capacity of about 11,517 MW have been allotted by the state government to hydro PSUs under the Union Ministry of Power, it stated.
The MoA signing ceremony was attended by Union Minister for Power and New & Renewable Energy, R.K. Singh; Chief Minister of Arunachal Pradesh Pema Khandu, Deputy Chief Minister of Arunachal Pradesh Chowna Mein; Union Power Secretary Pankaj Agarwal, and other officials of the Central and State Governments.
Addressing the event, Union Minister for Power Minster said that implementation of these hydropower projects will contribute immensely to the richness of the state.
"The per capita income of the state would become more than that of Maharashtra and Gujarat. All the developed nations including the USA, Canada, Norway etc., have harnessed 80%-90% of their hydropower potential.
"In India also, the states which harnessed the potential of hydropower have become prosperous. Hydropower is a green source of energy. Its usage will also increase the groundwater level and promote the growth of flora & fauna,” Singh said.
Out of these 12 projects, five projects of 2,620 MW have been allocated by the State Government to North Eastern Electric Power Corporation Ltd (NEEPCO), five projects of 5,097 MW to SJVN Ltd and the remaining two projects of capacity 3,800 MW to NHPC Ltd.
These projects were earlier allotted to private sector developers about 15 years ago but remained non-starters due to various reasons.
The state government, therefore, decided to rope in central hydro PSUs to give a push to the languishing projects.
Development of these projects will contribute towards achieving the declared Nationally Determined Contribution (NDC) target of achieving 500 GW non-fossil energy capacity in India by 2030.
Hydro Power will also be an effective contributor to the objective of achieving Net Zero carbon emissions by the year 2070.
These projects are also expected to create huge employment opportunities in the region and boost the local economy as well as foster skill development and technical expertise in the region.
The projects are expected to result in an estimated investment inflow of about Rs 1,26,500 crore to the state of Arunachal Pradesh, it stated.