Team News Riveting
New Delhi, June 7
NHPC limited, India’s premier hydropower company under Ministry of Power has formed a joint venture company, “Ratle Hydroelectric Power Corporation Limited” for the implementation of 850 MW Ratle Hydroelectric Project.
The JVC has been incorporated on June 1, 2021 with NHPC and Jammu & Kashmir State Power Development Corporation Ltd (JKSPDC) holding equity share of 51 per cent and 49 per cent respectively. Ratle Hydoelectric Project (850 MW), is a Run of River Scheme located on River Chenab, Kishtwar district, Union Territory of Jammu and Kashmir.
A tripartite Memorandum of Understanding (MoU) was signed on February 3, 2019 amongst JKSPDC, NHPC and erstwhile Government of Jammu & Kashmir in the august presence of Prime Minister, of India, Shri Narendra Modi. Further, a supplementary MoU for implementation of Ratle hydroelectric project was signed on 03.01.2021 at Jammu, in the presence of Shri R.K. Singh, Minister of State (IC) (Power and New & Renewable Energy) & Minister of State (Skill Development and Entrepreneurship), Dr. Jitendra Singh, Union Minister of State (IC), Ministry of Development of North Eastern Region; Minister of State, Prime Minister`s Office; Minister of State, Ministry of Personnel, Public Grievances and Pensions; Minister of State, Department of Atomic Energy; and Minister of State, Department of Space and Sh. Manoj Sinha Lieutenant Governor, UT of Jammu and Kashmir.
Ministry of Power has already conveyed investment sanction for construction of 850 MW Ratle HE Project at an estimated cost of Rs. 5281.94 crore (at Nov.2018 price level). Subsequently, the Promoters Agreement was signed on 13.04.2021 leading to the incorporation of Ratle Hydroelectric Power Corporation Limited.
