The Union Cabinet chaired by the Prime Minister Narendra Modi has given approval for the investment of Rs 5281 crore for 850 MW Ratle Hydro Electric Project on river Chenab in Union Territory of Jammu and Kashmir (J&K), the Ministry of Power said in a statement on Wednesday (20 January).
The run-of-the-river hydroelectric power station will come up on Chenab river near Drabshalla in Kishtwar district. This comes as a major boost for J&K, where 1,000 MW Pakal Dul hydroelectric project and 624 MW Kiru hydroelectric project are also under implementation.
The Ratle Hydro Electric Project will 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.
The construction activities of the Project will result in direct and indirect employment to around 4000 persons and will contribute to overall socio-economic development of the Union Territory of Jammu and Kashmir.
A new Joint Venture Company (JVC) between National Hydroelectric Power Corporation (NHPC) and Jammu & Kashmir State Power Development Corporation Limited (JKSPDC) with equity contribution of 51 per cent and 49 per cent respectively will be incorporated for the purpose.
Further, Union Territory of Jammu and Kashmir will be benefitted by getting free power worth Rs 5289 crore and through levy of Water Usage Charges worth Rs 9581 crore from Ratle Hydro Electric Project, during the project life cycle of 40 years.
The Union Territory (UT) has over 20,000 MW of hydroelectricity power generation potential, of which over 16,000 MW has already been identified.
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