Himachal's debt-stricken move: Seeks 40% stake in key hydel projects

19 May 2023 CW Team

Sukhvinder Singh Sukhu, Chief Minister, Himachal Pradesh, has requested a 40% stake in major hydropower projects within the state, which is known for its surplus electricity. This move follows a controversy sparked by a water cess imposed by the state government.

The Sukhu government initially raised the issue in February and later reiterated it during a visit by Union Power Secretary Alok Kumar on April 15. The government's demand specifically pertains to hydropower projects managed by the Bhakra Beas Management Board (BBMB) and the SJVN, but only for projects that have fully repaid their loans and recovered costs.

The BBMB is a board under the Punjab government responsible for overseeing the Bhakra Nangal and Beas projects, while the SJVN, initially established as the Nathpa Jhakri Power Corporation (NJPC), is a joint venture between the Union Ministry of Power and the Himachal government.

At present, the state receives a 12% royalty from private hydropower companies and holds a 7.19% share in BBMB's projects. Additionally, official records indicate that the state has a total equity of 26.8 percent in SJVN.

The state government is also seeking a review of power projects involving central public sector companies like SJVN, particularly those lacking specific provisions on the duration of the firms' control over the projects.

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