The centre, through the Union Power Ministry, is in process of preparing a framework for hydropower development in India and the same would soon be taken to the highest level in the government. “We are preparing a framework for hydro development in this country, very soon we will take it up to the highest level in the government, so the focus is going to be back on hydro,” said B P Pandey, additional secretary (Hydro), Ministry of Power, during a conference organised by Assocham in New Delhi.
He said that in totality hydropower comes out a much cleaner, greener and sustainable option while adding that water security is an issue in India and there is a need for storages as well. Highlighting that reducing the costs is one of the major challenges in hydro sector, he suggested for financial restructuring together with use of innovative financing instruments.
“How do we bring down costs or tariff of hydro projects, can we overcome and remove some of the long-drawn clearance processes taking into account environmental safety as well and basin studies, can we also devise some innovative financing models in our instruments which may help to restore the investor confidence which as of now has gone down and people are really not investing apart from PSUs,” said Pandey.
Meanwhile, Arunachal Pradesh, which accounts for over one-half of one lakh megawatt (MW) untapped hydropower potential in India, announced that it will provide single window clearance to all power developers from both central public sector undertakings (CPSUs) and private sector.
“We will provide all support to private developers for installing and commissioning of hydropower plants with facilities of single-window clearance. All requirements of local coordination will be fast tracked and we will ensure that there are no barriers to investors,” said Kalikho Pul, chief minister of Arunachal Pradesh, at the conference.
Suggesting that both solar and hydropower should simultaneously be promoted, Pul said that projects between 50-100 MW should be promoted and taken up under the Ministry of Non-Renewable Energy and there is need to source subsidy funding for the same.
“With a view to raise the share of hydropower in electricity-mix of the country, the Ministry of Power may set up a green energy corridor to evacuate hydropower generation from Arunachal Pradesh and north-eastern region,” he said further.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%