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The Centre will compensate NTPC to the tune of Rs 600 crore for cancellation of its 600-Mw hydropower project at Loharinag-Pala in Uttarakhand, power minister Sushilkumar Shinde said.
“The Central government will give money that has been assured to NTPC,” Shinde said. NTPC has so far invested about Rs 600 crore on the project and placed orders worth Rs 2,000 crore for equipment.
It earlier envisaged installation of four generating units of 150 Mw utilising a drop of 476.5 metres to have a maximum capacity of 600 Mw. A Group Of Ministers headed by Finance Minister Pranab Mukherjee, in August scrapped NTPC’s Loharinag Pala hydel project on environmental and religious grounds.
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