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MoU signed for new hydro-project

A MEMORANDUM of Understanding (MoU) was signed between the UP Government and JVK, a private power generation company of south India, under the new power policy of the State, in the presence of Energy Minister Shiv Pal Singh Yadav at Shakti Bhawan here on Sunday.

india Updated: Feb 13, 2006 01:26 IST

A MEMORANDUM of Understanding (MoU) was signed between the UP Government and JVK, a private power generation company of south India, under the new power policy of the State, in the presence of Energy Minister Shiv Pal Singh Yadav at Shakti Bhawan here on Sunday.

The company will set up a hydro power project comprising three units of 110 MW capacity at Srinagar in Uttaranchal, generating 330 MW at an estimated cost of Rs 1,700 crore. The Cabinet had approved implementation of two MoUs in the power generation sector two days back. The generation is scheduled to begin by 2010.

Chairman of UP Power Corporation Ltd (UPPCL) Ashok Khurana and JVK Chief Executive Officer (CEO) Prasanna Reddy inked the MoU.

Talking to mediapersons later, the Energy Minister claimed that the UP Government was seriously considering reviving all the pending power projects.
Reddy admitted that he had taken over this project from the Tatas as no work had been possible on this project ever since the division of the State.

ccording to the PPA signed then, the unbundled UP State Electricity Board (UPSEB) was to get 12 per cent of the total generated power free of cost. Now, it would be available to Uttaranchal, Reddy said. The remaining 88 per cent would be purchased by the UPPCL. He claimed that the consumers would get power at less that Rs 2 per unit.

Lauding the State Government, he said all the formalities were completed within a record time. Reddy indicated that his company might take interest in other power projects as well.

Principal Secretary (Energy) and UPPCL Chairman AK Khurana said the State Government would set up a new 400 KV transmission line upto Muzaffarnagar for the transmission of the electricity generated at the new power plant.

First Published: Feb 13, 2006 01:26 IST