Govt to speed up 95 hydro power projects: Scindia | business | Hindustan Times
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Govt to speed up 95 hydro power projects: Scindia

business Updated: Sep 11, 2013 02:17 IST
HT Correspondent

Power minister Jyotiraditya Scindia said on Tuesday that efforts are underway to fast track hydro power projects in the country with a total generation capacity of 40,000 MW awaiting clearances at various levels.

Scindia said he has also sought setting up an empowered group of ministers to push these 95 hydro projects. He said Arunachal Pradesh has the maximum hydro power generation potential at around 50,000 MW.

"We have got a lot of traction from the ministry of coal and the ministry of environment and forests. We will chart the way forward in a progressive manner that will allow the power sector to grow in this country," he added.

The government plans to add a fresh power generating capacity of 88,537 MW over the next five years.

While addressing the conference of state power ministers in New Delhi on Tuesday, Scindia said he will soon approach the cabinet for allowing incorporation of certain changes in the government's debt recast plan for electricity distribution companies in order to accommodate four-five states.

"There are four-five states where we need to tweak the FRP (financial restructuring package) process slightly," Scindia said.

"Jharkhand, Bihar, Andhra Pradesh and Karnataka will be allowed a window under the FRP to meet the mandatory conditions," Scindia said, without going into details.

He added that the response from the states on the Centre's debt recast plan has been good, and around six states have come forward to avail benefits.

"Tamil Nadu and Rajasthan (state electricity boards) have already issued the bonds, while UP, Haryana and Himachal Pradesh are in the process," he added.