Hyderabad-based GMR Group has bagged the 180-Mw Bajoli Holi hydel project to be built on the Ravi river in the Chamba valley in Himachal Pradesh. | |
| The company had offered the highest bid of Rs 91.18 lakh per Mw premium to the state government in global tenders invited for the project. |
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| Officials say this is the highest ever upfront premium offered by any company for a hydel project in the country. |
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| According to the deal, the company will pay Rs 160 crore to the state government even before actual work starts on the Bajoli Holi project. |
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| The state government has last month awarded five other hydel projects in the state, all over 100 Mw after over 50 global bids took place. |
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| Himachal Pradesh has a quarter of the country's hydel power potential as five major Himalayan rivers flow through the state. |
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| But only a quarter of this has been tapped so far due to lack of funds. |
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