Industry & Economy
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Power
Bhakra Beas plans new units in HP, Uttaranchal
Our Bureau
New Delhi
,
Aug. 4
THE Bhakra Beas Management Board (BBMB), which runs the hydroelectric power stations in the Bhakra-Nangal dam project, has proposed setting up new hydel projects in Himachal Pradesh and Uttaranchal through a special purpose vehicle (SPV).
BBMB, the country's second largest hydropower organisation with a total installed capacity of 2,866 mw, has sent a proposal to the Union Power Ministry and the Punjab and Himachal Pradesh governments.
"We have proposed an SPV for undertaking more hydro projects in Himachal and Uttaranchal. The partner states such as Punjab and Himachal could have an equal equity stake in the SPV," BBMB Chairman Mr Rakesh Nath told reporters at a workshop here.
The proposed SPV would have a debt-equity ratio of 70:30, he said, adding the debt could be met through financial institutions such as the Power Finance Corporation.
"If all states and the Centre agree, we can approach the Registrar of Companies to get the SPV registered. We would then be able to approach the Himachal Government for allocation of the hydro projects," he said.
Created under the Punjab Reorganisation Act 1966, BBMB manages six power plants at Bhakra and Nangal on the Satluj and Pong Dam project on river Beas.
The Bhakra project was commissioned in 1963 by the then Prime Minister Jawaharlal Nehru.
The Board earns about Rs 150 crore every year from sale of electricity, and partner states get a share of the revenue, BBMB officials said, adding this revenue could be pooled to fund other construction projects.
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