Tuesday 21st May 2024

SJVN bags project under leadership of Union Power Minister, R K Singh

Jul 13th, 2021 9:31 pm | By | Category: LATEST NEWS

A Memorandum of Understanding (MoU) has been signed for execution of 679 MW Lower Arun Hydro Electric Project in Nepal between Satluj Jal Vidyut Nigam (SJVN) Central Public Sector Enterprise under Ministry of Power, Government of India & Investment Board of Nepal (IBN) in Kathmandu Nepal. With the active support of Ministry of Power, Govt. of India, SJVN won the project through International Competitive Bidding defeating other companies of the neighbouring countries.

R K Singh called this a welcome achievement saying that Nepal chose our CPSU based on its performance in Arun-3 HEP . During the visit of R K Singh, Union Cabinet Minister of Power and New and Renewable Energy to Nepal in September 2019, he convinced the Prime Minister of Nepal to allot SJVN, the Lower Arun HEP (679 MW), a downstream development of Arun-3 HEP based on the capabilities, proven track record of SJVN in hydro sector as also shown by the progress of construction activities of Arun 3 HEP in Nepal.

N.L.Sharma, CMD
SJVN limited.

Ministry of Power under the able leadership of R K Singh, Union Cabinet Minister of Power and New and Renewable Energy has introduced various landmark measures to promote development of hydro power sector. These measures include declaration of large hydro power projects as renewable energy projects, rationalisation of tariff, increasing useful life of project to 40 years, increasing debt service period to 18 years, financial assistance for enabling infrastructure and flood moderation works and Hydro Power Purchase Obligation. Also, guidelines to reduce incidence of time and cost during construction of hydro power projects were also issued by Ministry of Power.

India is also endeavouring creation of a common pool for regional power grid and energy market in the neighbouring countries for regional peace and improvement of optimum utilisation of generation assets under the visionary leadership of Prime Minister Narendra Modi.

The Memorandum of Understanding (MoU) was signed by (SJVNL) Chairman and Managing Director Nand Lal Sharma and IBN Chief Executive Officer Sushil Bhatta in the benign presence of Deputy Prime Minister of Nepal, Bishnu Prasad Paudel and Ambassador of India to Nepal, Vinay Mohan Kwatra. On this Occasion CEO SAPDC, Arun Dhiman and CFO SAPDC, Jitender Yadav were also present along with other senior officials from Government of Nepal and SJVN. SJVN Limited has bagged 679 MW Lower Arun HEP through International Competitive Bidding (ICB), which involved big players.

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