PM, Sonia lay foundation for GVK hydro plant in J&K
The Rs 5,500-cr project, which will generate 850 MW power, is likely to commence operations in 2017 Hyderabad: Prime Minister Manmohan Singh and...
The Rs 5,500-cr project, which will generate 850 MW power, is likely to commence operations in 2017 Hyderabad: Prime Minister Manmohan Singh and UPA chairperson Sonia Gandhi on Tuesday laid the foundation for the 850 megawatts (MW) GVK Rattle hydro electric project to be set up across the river Chenab in Jammu & Kashmir. GVK Rattle Hydro Electric Project Pvt Ltd, a part of GVK group, is setting up the project under build, own, operate and transfer (BOOT) mode for a period of 35 years. The project has been awarded to GVK Developmental Projects Pvt Ltd (GVKDPPL) by Jammu & Kashmir State Power Development Corporation Ltd (JKSPDC) on behalf of the Power Development Department (PDD), J& K. This is the first hydro power project in the State awarded on tariff based International Competitive Bidding (ICB)," GVK group said in a press release. A power purchase agreement has been executed between PDD and GVK Ratle HEP on June 30, 2010, and the total installed capacity of the project is 850 MW as per approval of Central Electrical Authority, it added. As per the agreement, the project will provide 16 per cent of its power to Jammu & Kashmir at free of cost while another 55 per cent will be given at levelized tariff of Rs 1.44 per unit for a period of 35 years from commercial date of operations. The project, which is being developed with an investment of Rs 5,500 crore, is likely to start operations in early 2017. "Our power plants are benchmarked to the best standards of efficiency and productivity. This is the first ever power project in the State that has been awarded through a tariff based competitive bidding process and is the first private sector investment in the power sector in Jammu & Kashmir," said GVK Reddy, Chairman and Managing Director, GVK, who also participated in the foundation-stone laying ceremony. Located 25 km away from Kishtwar town and near Drabshala village, the project envisages construction of a 195 metre long and 133 metre high concrete gravity dam with a 168 m long, 24.5 m wide and 49 m deep underground power house cavern. This cavern is designed to house four generating units of 205 MW each and an additional unit of 30 MW for utilizing the environmental releases. The water will be released back to the river through four underground tail race tunnels (TRTs). Once completed, the project is capable of generating around 3,220 million units of energy in a 90 per cent dependable year. GVK group is spending Rs 262.35 crore on Rehabilitation and Resettlement (R&R) plan besides CSR activities for the project. A sum of Rs 110 crore was earmarked for the benefit of project affected families (PAFs) and Rs 60 crore for local area and skill development besides Rs 30 crore on other CSR activities. "Through this project, we aim at bringing about an overall economic and social development of the region that will lead to an improved quality of life of the people thereby steering the nation on the path of economic progression," said GVK Reddy.