Shimla: Satluj Jal Vidyut Nigam Ltd., (SJVNL) owner of the countryâ€™s largest hydroelectric plant, today inked a $ 400 million loan agreement with World Bank for financing construction of the 412 MW Rampur hydro electric project.
HK Sharma on behalf of SJVNL, Isabella Guerrio, country director World Bank and Madhusudan Prasad, joint secretary economic affairs signed the loan agreement at Delhi
The Rampur project is a downstream project of the existing 1500 MW Nathpa Jhakri Hydro Electric Power Station and is designed to work in tandem with the larger project for it would use its tail water for generation purposes.
The Rampur project is slated to be commissioned by January 2012 within the 11th plan period and shall generate 1770 million units of electricity each year.
The project is being executed as a joint venture between the government of Himachal, which has maintained a 30 percent equity in it and the central government holding the remaining share. Other than equity the state has royalty rights in the project which provides for a provision of providing 12 percent power free to the state as a compensation for surrendering the generation site to the government company.
The power generated would be fed into the northern grid and would meet the power requirements of UP, Jammu & Kashmir, Uttarakhand, Delhi, Punjab, Haryana, Chandigarh and Rajasthan, company spokesman Vijay Verma stated.