Karnataka inks MoU with Tehri Hydro Development Corp for Rs 15,000 crore power projects
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
Karnataka Power Corporation Limited and Tehri Hydro Development Corporation Limited (THDCL) on Thursday signed a MoU to take up accelerated development of various power projects worth Rs 15,000 crore.
It will include hydro, solar (floating and ground mounting) and pumped storage projects.
Karnataka Energy Minister K J George said the MoU encompasses the development of a 100 MW Floating Solar PV Plant at the Kadra Dam reservoir, the Establishment of 170 MW of Ground mounted, rooftop Solar PV Plant in the premises of KPCL Plants and the Establishment of 1500 MW of Pumped Storage Plant at Varahi.
"This is an excellent opportunity for the state, and we will begin work with the Central Government on a priority basis. The Central government has assured that the power generated under this MoU will prioritise the Karnataka state government.
"We also need power to address the state's rising demands. Therefore, we will work towards executing this Memorandum of Understanding (MoU) at the earliest. This is a flagship scheme and benefits the state immensely," the Energy Minister added.
"Signing this MOU is a major step. The government of Karnataka, through its two undertakings, Karnataka Power Corporation Limited (KPCL) and Karnataka Renewable Energy Development Ltd (KREDL), have entered into an MOU with Tehri Hydro Development Corporation Limited (THDCL), a Central Govt Generating company, which has experience working in renewable space and Hydro and Pump Hydro space to take up several power generation projects in the state of Karnataka," Gaurav Gupta I.A.S, Additional Chief Secretary to the Ministry of Energy, Government of Karnataka.
"These projects, if and when finalised, will lead to an investment of more than Rs 15,000 crore in Karnataka by the THDC at mutually agreed terms and conditions. Right now, the task is to prepare the Details Project Reports (DPRs) , take up the feasibility study, and get approvals, and for that, THDC has assured immediate steps will be taken," Gaurav Gupta added.
The MoU was signed by Bhupender Gupta, Director (Technical) from Tehri Hydro Development Corporation Limited (THDCL), and Gaurav Gupta, Additional Chief Secretary, Ministry of Energy, Government of Karnataka.
