NHPC-OHPC JV to set up three hydel projects

The Orissa Hydro Power Corporation (OHPC) and NHPC, which had entered into a JV for setting up 12 hydel power projects in the state, will undertake three hydel projects with a cumulative capacity of 300 MW in Phase I.

The power projects are to come up on Mahanadi river and they included Sindol-I with a capacity of 90 MW at Deogaon; 90 MW Sindol-II at Kapasira in Sonepur district and 120 MW Sindol-III at Godhaneswar, also in Sonepur district.

The proposed JV is to have 30:70 equity and debt component with NHPC holding 51 per cent equity and OHPC the remaining 49 per cent. As per sources, the draft JV proposal sent by NHPC to the Orissa Government has been approved and NHPC is set to sign the MoU with the state government soon.