Ratle hydroelectric project in J&K to finally get under way

The Public Investment Board (PIB) has recommended that the 850 MW Ratle hydroelectric power project be developed through a JV of the JK Power Development Corporation and the National Hydroelectric Power Corporation. The PIB has also recommended approving an investment of Rs.52,819.4 mn for the project, including equity infusion of Rs.8,081.4 mn by NHPC in the JV. The equity contribution of JKPDC, pegged at Rs.7764.4 mn, will be provided as grant from the Centre. Ratle was the first project in India to be awarded through tariff-based bidding. However, it was stalled due to the unilateral withdrawal of a developer from the project.