New Delhi, July 24 (UNI) The Cabinet Committee on Economic Affairs (CCEA) today gave its approval for the implementation of Vishnugad Pipalkoti HEP (4X111 MW) at an estimated cost of Rs 2,491.58 crore, including interest during construction and financial charges of Rs 366.83 crore.
The project, which would be commissioned by June 2013, would be set up by Tehri Hydro Development Corporation Ltd, a joint venture corporation of the Centre and the Uttar Pradesh government. The debt-equity ratio of the project would be 70-30.
Carbon emission reduction credits would be obtained under the Clean Development Mechanism of the Kyoto Protocol, which would further improve the economic viability of the project.
The project would contribute towards capacity addition and would help in reducing the peaking and energy shortage in the northern region and would also improve the hydro thermal mix in the country.
The Vishnugad Pipalkoti HEP is situated in Chamoli district of Uttarkhand on river Alaknanda, a major tributary of Ganga. The Project is located on NH-58 and is about 225 km from Rishikesh.
UNI SN MIR DS1523