The Orissa Hydro Power Corporation (OHPC) and National Hydro Power Corporation (NHPC), which have forged a joint venture agreement for developing 12 hydel projects in Orissa, will sign a Memorandum of Understanding (MoU) by the end of December this year.
"There were some procedural delays which had held up the signing of the MoU between OHPC and NHPC. Both OHPC and NHPC will enter into an MoU for developing hydel projects by the end of December this year”, a top official source told Business Standard.
The joint venture company will be formed within three months of signing of the MoU. While NHPC will hold 51 per cent stake in the JV company, the balance 49 per cent will be owned by OHPC.
In the first phase, the JV company will take up three hydel projects with a cumulative capacity of 300 MW. All the three hydel power projects, which will come up on Mahanadi river, include Sindol-I with a capacity of 90 MW at Deogaon.
It may be noted that an inter-departmental technical coordination committee consisting of the members of energy and water resources department was constituted to oversee the implementation of these projects.
Though 12 hydel projects were identified for development on the joint venture mode, the number can increase or decrease after close examination during the preparation of the Detailed Project Report (DPR).
The identified locations are Middle Kolab, Tel integrated project, lower Bansadhara, Balijori Hydel Project, Salki Hydel Project, Khadago Dam Project, Uttei Roul Integrated Project, Mahanadi-Brahmani River Link, Baramul Hydel Project, Sindol-I, Sindol-II and Sindol-III projects.