Shimla, Feb 26 (UNI) Cosmos Hydro Power (CBPL) today bagged the 17 MW Chanju II hydro electric project located in Chamba district of Himachal Pradesh, a company spokesman said.
The project has been allotted to Cosmos for a 40-year period on build operate and transfer (BOT) basis, he said here.
The spokesman said the Rs 100 crore project would generate 85 million units of power in 90 per cent dependable year after the company has submitted a detailed project report (DPR) to the state government within 18 months.
The agreement was signed by Himachal's Principal Secretary Ajay Mittal and company's director Deepak Yadav here today.
According to the agreement, the company would provide 12 per cent free power in the 12 years, 18 per cent during the next 18 months and thereafter 30 per cent to the state as royalty.
He said the project would be completed within a three-year period and would provide maximum employment to the local people, besides ensuring minimum losses to the state's environment.
CHPL is a 100 per cent subsidiary promoted by Cosmos Industries (CIL), a conglomerate with interests in renewable energy, sugar, real estate, hospitality, paper, banking and financing, alcoholic beverages and retail.
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