24 July :The Cabinet Committee on Economic Affairs today gave its approval for:A. Implementation of Vishnugad Pipalkoti HEP (4X111 MW) at an estimated cost of Rs.2491.58 crore including Interest During Construction and Financial charges of Rs.366.83 crore at March 2008 PL(with Debt:Equity Ratio of 70:30) by Tehri Hydro Development Corporation Ltd., a Joint Venture Corporation of the Government of India and Government of Uttar Pradesh.
B. Equity shall be released pari-passu with the Debt. 50% of equity for the project shall be contributed by THDC out of its internal resources and the balance 50% shall be shared between Government of India and Government of UP in the ratio of 3:1.
C. The Project shall be commissioned by June 2013
D. Obtaining Carbon Emission Reduction credits under the Clean Development Mechanism of the Kyoto Protocol, which would further improve the economic viability of the Project.
The project would contribute towards Capacity addition and would help in reducing the peaking and energy shortage in the Northern Region and would also improve the hydro improve the hydro thermal mix in the country.
The Vishnugad Pipalkoti HEP is situated in Chamoli district of Uttarkhand on river Alaknanda, a major tributary of Ganga. The Project is located on NH-58 and is about 225 km from Rishikesh.