New Delhi [India], September 11 (ANI): The Union Cabinet, chaired by the Prime Minister Narendra Modi, has approved the proposal of the Ministry of Power for modification of the scheme of budgetary support for the cost of Enabling Infrastructure for Hydro Electric Projects (HEP) with a total outlay of Rs.12461 crore. The scheme would be implemented from FY 2024-25 to FY 2031-32.
The Centre has been taking several policy initiatives to address the issues impeding Hydro Power development, viz., remote locations and hilly areas.
To promote the hydro power sector and to make it more viable, the Cabinet in March, 2019, approved measures, namely declaring large hydro power projects as Renewable Energy sources, Hydro Power Purchase Obligations (HPOs), tariff rationalization measures through escalating tariff, budgetary support for flood moderation in storage HEP and budgetary support for the cost of enabling infrastructure, i.e., construction of roads and bridges.
For the faster development of Hydro Electric Projects and improvement of infrastructure in the remote project locations, some modifications have been made in the earlier scheme, Information and Broadcasting Minister Ashwini Vaishnaw told the media here.
The scheme has a total outlay of Rs.12,461 crore for cumulative generation capacity of about 31350 MW to be implemented from FY 2024-25 to FY 2031-32, he said.
The scheme will be applicable to all Hydro Power Projects of more than 25 MW capacity including the private sector projects which have been allotted on a transparent basis. This scheme will also be applicable to all Pumped Storage Projects (PSPs) including Captive/Merchant PSPs, provided that the project has been allotted on a transparent basis. A cumulative PSP capacity of about 15,000 MW would be supported under the scheme, an offiical release said.
The projects whose Letter of Award of first major package is issued upto 30.06.2028 would be considered under this scheme.
The limit of Budgetary Support for the cost of Enabling Infrastructure has been rationalized to Rs.1.0 crore/MW for projects up to 200 MW and Rs.200 crore plus Rs.0.75 crore per MW exceeding 200 MW, for projects above 200 MW. For exceptional cases the limit of budgetary support may go upto Rs.1.5 Crore/MW provided sufficient justification exists.
The release said that the revised scheme would help in faster development of hydro electric projects, improve infrastructure in the remote and hilly project locations and would provide large number of direct employment to the local people along with indirect employment / entrepreneurial opportunities through transportation, tourism, small-scale business. It would encourage fresh investments into hydro power sector and incentivize timely completion of new projects. (ANI)
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