Cabinet approves investment for Ratle hydropower project in J&K
The Union Cabinet has given approval to Rs 5281.94-crore investment for the 850 megawatt (MW) Ratle hydropower project on Chenab River in Kishtwar district of Jammu & Kashmir.
The project is being taken up by a new joint venture company (JVC) to be incorporated between National Hydroelectric Power Corporation (NHPC) and Jammu & Kashmir State Power Development Corporation Ltd (JKSPDC) with equity contribution of 51 per cent and 49 per cent respectively.
An official statement said the Centre is also supporting the Union Territory of Jammu & Kashmir by providing grant of Rs 776.44 crore for Equity contribution of JKSPDC in the JVC to be set up for construction of Ratle project. NHPC shall invest its equity Rs 808.14 crore from its internal resources.
The Ratle hydroelectric project is expected to be commissioned within a span of 60 months. The power generated from the project will help in providing balancing of grid and will improve the power supply position.
To make the project viable, the Jammu & Kashmir government will extend exemption from levy of water usage charges for 10 years after commissioning of the project, reimbursement of state’s share of GST and waiver of free power to the Union Territory in a decremental manner – the free power to Jammu & Kashmir would be one per cent in the 1st year after commissioning of the project and rising by one per cent per year to 12 per cent in the 12th year.
The approval for the project comes in the wake of plans to expedite strategically important hydropower projects in Jammu & Kashmir.
Meanwhile, according to a PTI news report, the Centre has also cleared eight other hydropower projects in Ladakh. The proposed projects will come up in Kargil and Leh districts of Ladakh and will have a combined capacity of 144 MW on the Indus River and its tributaries.
Currently, there are several small projects with a combined capacity of 113 MW on the Indus River in Ladakh. The Durbuk Shyok (19 MW), Shankoo (18.5 MW), Nimu Chilling (24 MW), Rongdo (12 MW), Ratan Nag (10.5 MW) hydropower projects have been cleared for Leh, while Mangdum Sangra (19 MW), Kargil Hunderman (25 MW) and Tamasha (12 MW) have been cleared for Kargil, the report said.
