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ONGC ready to foray into hydropower sector

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Oil major is showing interests in participating in by expanding the scope of the ONGC-Tripura Power Company Ltd (OTPC).

This was indicated after a meeting between ONGC chief and Uttarakhand chief minister Vijay Bahuguna here last evening.

K S Jamestin, ONGC’s Director-Human Resource, who was also present during the meeting told Business Standard “We are interested in developing small hydel projects which are run-of-the-river projects as well as environment-friendly. We are going for the expansion of and exploring the possibility of developing hydel projects in this regard,” he said.

ONGC Tripura Power Company Ltd is a joint venture between ONGC, Infrastructure Leasing and Financial Services Limited (IL&FS) and the Government of Tripura for implementation of the 726.6 MW CCGT thermal power project at Palatana in Tripura to supply power to the power deficit areas of the north-eastern states. After the meeting, Bahuguna asked the power department toprepare a blue print for all those power projects which has received clearances from the union ministry of forests and environment.

He asked them to hold another meeting with ONGC officials for the development all these projects.

Faced with acute paucity of funds, Uttarakhand has been trying to attract private players in the hydropower sector by offering joint ventures with Uttarakhand Jal Vidyut Nigam, the state-run power generation company. The sector received a severe jolt after the Centre scrapped several big hydel projects including NTPC’s 600 MW Lohari Nagpala project on Bhagirathi river on environmental and religious grounds.

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