Karnataka signs 15,000 crore power projects deal with Tehri Hydro Development
By siliconindia | Friday, 10 November 2023, 09:05:52 AM IST
Karnataka Power Corporation Limited has signed a Memorandum of Understanding (MoU) with Tehri Hydro Development Corporation Limited (THDCL) for the accelerated development of various power projects. The estimated cost of the projects is around Rs 15,000 crore and includes hydro, solar (floating and ground mounting), and pumped storage projects.
Karnataka's Energy Minister, K J George, announced that a Memorandum of Understanding (MoU) has been signed for three major projects. These include the development of a 100 MW floating solar PV plant on the Kadra Dam reservoir, the establishment of 170 MW of ground-mounted and rooftop solar PV plants on the premises of KPCL Plants, and the establishment of a 1500 MW 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 prioritize 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), has entered into an MOU with Tehri Hydro Development Corporation Limited (THDCL), a Central government 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 finalized, 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.
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