NHPC is gearing up to build India's biggest hydro
plant, a 3,000 MW project that is equivalent to about half its current total
capacity and three times the size of its biggest unit, even as it brushes off
concerns over competition from the private sector.
State-owned NHPC recently received approvals from theForest
Advisory Committee for Dibang hydel project in Arunachal Pradesh and
plans to approach the Cabinet Committee for a final nod within a
year.
"We will execute the Dibang project in partnership with
one of the PSUs and the state government at an investment
of Rs 15,000-16,000 crore. Due to its large scale, the per-MW project cost will
be much less than the average of Rs 7-8 crore," NHPC Chairman and
Managing Director RST Sai said. "Also, we will be able to execute the
project faster as there are only a handful of families living at such high
altitude and it will save time for their rehabilitation."
NHPC, which operates 6,500 MW of hydro power generation
capacity, expects to build more plants as the Narendra Modi government pushes
for faster clearances for infrastructure projects in a bid to boost the
economy. The share of hydro power in the country's generation capacity has been
declining as delayed environmental clearances and rehabilitation of displaced
people stalled projects.
Sai said the private sector is in no position to challenge
the state-owned company's dominance in generating hydro power and cited the
example of the Jaypee Group, which put its hydro projects on the block to
reduce debt. Executives who left for highpaying jobs now want to come back as
they see a future for hydro only in NHPC, he said.
Sai's main concern is about delays in the 2,000 MW Subansiri
project in Assam and Arunachal Pradesh, which is being opposed by a
section of affected locals. He added that finance is not a challenge
for NHPC since it has reserves to the tune of Rs 16,000 crore and the company
enjoys access to low-cost funds. He is not looking at growth through the
acquisition of private sector projects
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