By IANS
Shimla : The world bank has approved a $400-million loan to build the 412 MW Rampur hydroelectric project in Himachal Pradesh. The Rampur project will be built by Sutlej Jal Vidyut Nigam Ltd (SJVNL), officials said here Saturday.
“The project will provide renewable energy to the northern electricity grid,” said H.K. Sharma, chairman and managing director, SJVNL.
The Rampur project is a cascade hydroelectric project immediately downstream of the 1,500 MW Nathpa-Jhakri project on the Sutlej River in Shimla district, about 140 km from here.
“The project would generate 1,770 million units of electricity on completion by January 2012. The state will receive 12 percent free power as royalty and 30 percent of the rest at normal rates in lieu of equity contribution. The rest of the power will be distributed to the constituents of the northern grid,” said Sharma.
“The SJVNL has applied for carbon finance for the project. Preliminary estimates show that the execution of the project will result in emission reductions to the tune of 1.2 million per unit. This would bring in additional revenues of Rs.380 million every year,” he added.