KfW and ADB to finance Rs. 2927.50 crores power projects in Himachal


KfW (Kreditanstalt für Wiederaufbau) a German Development Agency, and Asian Development Bank ( ADB) have decided to finance Rs. 2927.50 crore  power projects in Himachal Pradesh after signing an agreement with state public sector HP Power Corporation Ltd (HPPCL) for about 690 MW Hydro Electric Power Project (HEP) in this regard, a spokesman of firm told.

The corporate official of HPPCL, Rahul Lotheta  informed that recently an agreement has been singed with German financial institution KfW Frankfurt to finance 150 million Euro (Rs.1245 Crore) for the electro-mechanical works of Shongtong-Karcham Hydroelectric Project (450 MW).

KfW has also agreed for financing Thana-Plaun HEP (191 MW) for 201.5 million Euros (Rs. 1672.5 Crore) being constructed on river Beas in Mandi District of Himachal Pradesh.

In the agreement public sector unit has to ensure techno-economic clearance of Thana-Plaun Hydroelectric Project from union government and construction of this project is taken up within an year.

It is also taking steps for arranging finance for construction of Surgani-Sundla Hydroelectric Project (48 MW) downstream of Baira-Siul Hydroelectric Project in Chamba District from ADB.

The state has hydropower potential of about 23000 MW while only 7800 MW has been achieved so far.

Under construction 100 MW Sainj HEP has been contemplated as a run-of-the-river project on river Sainj, a tributary of river Beas in Kullu district of HP is likely to be commissioned by 2015.

The project comprises of a diversion barrage on the river Sainj near village Niharni and underground power house on right bank of river Sainj near village Suind.

The project will generate 322 MU per annum and will give revenue of Rs. 150 crores to the state government.

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