Arunachal govt to hand over hydropower projects to two CPSUs

According to officials in this city on Wednesday, the Arunachal Pradesh government has agreed to transfer control of five hydroelectric projects with a total generation capacity of 2820 MW to two Central Public Sector Undertakings (CPSUs). The Chief Minister's Office (CMO) official estimated that these five projects would cost $400 million to $400 billion to complete over the following five to seven years.

Two hydroelectric projects, Naying (1,000 MW) and Hirong (500 MW), would be given to the North Eastern Electric Power Corporation Limited (NEEPCO), and Satluj Jal Vidyut Nigam Limited would be responsible for developing Emini (500 MW), Amulin (420 MW), and Minundon (400 MW).

In order to realise the potential, the state cabinet approved the indicative process for transferring the stalled hydropower projects to CPSUs during its meeting on Tuesday, which was presided over by Chief Minister Pema Khandu.

According to the CMO official, these initiatives would generate about $500 million in annual revenue According to the report, Arunachal Pradesh will make a significant contribution to India's goal of reaching 500 gigawatts of non-fossil energy capacity thanks to its hydropower.

According to the statement, hydropower is a significant source of renewable energy that, if harnessed, would lead to the area's overall socioeconomic development through significant infrastructure investment as well as benefits like free electricity, a local area development fund, employment opportunities, contracts, and business opportunities, as well as the improvement of social sectors like health and education.

During its meeting, the cabinet also gave its approval for the state government's power sector revenue to be invested in government bonds for Arunachal Pradesh's development.and about $1 billion for local area development (LAD).