Current Affairs Economy & Banking

NHPC to acquire Lanco Teesta Hydro Power Ltd (LTHPL)

Category : Economy & Banking

 The Cabinet Committee on Economic Affairs (CCEA) has approved the acquisition of debt-laden Lanco’s 500 MW Teesta hydro-electric power project in Sikkim by state-owned NHPC.

Taking over of Lanco Teesta Hydro Power Ltd

  • NHPC will take over debt-laden Lanco’s 500 MW Teesta hydro-electric power project for Rs 907 crore in Sikkim.
  • CCEA has sanctioned the funds for the acquisition and execution of balance work of the Teesta Stage-Vl Hydro Electric Project by the NHPC Ltd.
  • The total cost of the project would be Rs 5,748.04 crore (at July 2018 price level), which includes a bid amount of Rs 907 crore for acquisition and estimated cost of balance work of Rs 3,863.95 crore, which includes Interest During Construction (IDC) and Foreign Component (FC) of Rs 977.09 crore

Teesta Stage-Vl Hydro Electric Project

  • Teesta Stage-Vl Hydro Electric Project is a Run of River (RoR) project in Sirwani Village of Sikkim to utilize the power potential of Teesta River Basin in a cascade manner.
  • The project involves the construction of a 26.5-metre high barrage across river Teesta.
  • The estimated power generation is 2,400 million units of electricity in a 90 per cent dependable year with an installed capacity of 500 MW (4x125MW).

NHPC

NHPC Limited, formerly known as National Hydroelectric Power Corp. was incorporated as Central Govt. Enterprise for development of Hydro Power in Central Sector on 7th November 1975. Over the years NHPC has evolved as the largest central utility for hydropower development in India. NHPC is mandated to plan, promote and organize an integrated and efficient development of power in all aspects through Conventional and Non Conventional Sources in India and abroad.

NHPC which is a premier organization in the country for the development of hydropower has an authorised capital of about Rs.15,000 crores and has a Miniratna status.



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