By IANS
Shimla : Cosmos Hydro Power Ltd (CHPL) will build and operate for 40 years a Rs.1-billion ($25 million) hydroelectric plant in Himachal Pradesh, according to a memorandum of understanding (MoU) it signed with the state government.
The Delhi-based company will build the 17-MW Chanju-II hydroelectric project in a remote mountainous region in Chamba district, around 450 km from here.
The plant will be built on Chanju river, a tributary of the Ravi.
Deepak Yadav, director of CHPL and Ajay Mittal, principal power secretary of the Himachal Pradesh government, signed the MoU here late Tuesday.
“The project has been allotted to CHPL for 40 years on build, own, operate and transfer basis,” Satish Chauhan, a senior official of CHPL, said here Wednesday.
“It would cost around Rs.100 crore (Rs.1 billion) to build the Chanju hydro project and will generate 85 million units of electricity in a dependable year,” said Chauhan.