Shinde hails SJVNL for getting world bank funding

New Delhi, Sep 27 (UNI) Union Power Minister Sushil Kumar Shinde, has complimented Satluj Jal Vidyut Nigam Limited (SJVNL) for being the first hydro-electric Company in the country to get the World Bank funding towards setting up of the 412 Mega Watts (MW) Rampur Hydro Electric Project (RHEP) in Himachal Pradesh with Clean Development Mechanism(CDM) benefits.

The issue came up during the review meeting of the company held here yesterday evening.

During the meeting, Mr Shinde advised SJVNL to tie up more hydro- electric projects with concessional funding. The minister observed that the company was emerging as a major regional player in hydro power through its internal accruals having bagged the 402 MW Arun- 3 hydro electric project through competitive bidding in Nepal. It was also updating preparing Detailed Project Report (DPR) for two more Hydro-electric projects in Bhutan, namely the 900 MW Wangchu HE Project and 486 MW Kholangchu HE Project.

During the meeting, the SJVNL CMD H K Sharma, informed Mr Shinde that the corporation since its inception had displayed a sustained growth in all aspects of the hydropower arena.

The company's authorised capital is presently placed at Rs 4500 crore but in view of its large number of projects in hand, the revision of the authorised capital to Rs 7000 crore was also taken up.

UNI/BKS SV VC1819