MoU signed for Chanju-II hydro power project

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HimVani
Shimla: Cosmos Hydro Power Limited (CHPL), an independent power producer company (IPP), signed a memorandum of understanding (MoU) with the government of Himachal Pradesh for implementation of the 17 MW Chanju-II hydro-electric project in Chamba district of Himachal Pradesh. As per the MoU signed, the project has been allotted to the IPP for 40 years on build, own, operate and transfer (BOOT) basis.
The MOU was formally signed by Deepak Yadav, Director of the CHPL, on behalf of the IPP whereas Ajay Mittal, Principal Secretary (Power) signed it on behalf of the government. Briefing the press, Yadav informed that the project, with an estimated cost of about Rs 100 crore, would generate 85 million unites energy in a 90 % dependable year. As a first step, he said, the company would prepare and submit a detailed project report (DPR) to the government within the specified period of 18 months in accordance with the terms and conditions of the MoU signed. He further stated that the company would be supplying 12 % of the generated power during the first 12 years, 18 % during the next 18 years and 30 % thereafter, free of cost to the state government as royalty.
CHPL is a 100 % subsidy promoted by Cosmos Industries Limited (CIL), a diversified conglomerate with interests in renewable energy, sugar, real estate, hospitality, etc.

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