New Delhi: Power Ministry is preparing a new framework to boost hydropower development in the country by lowering the cost and removal of long-drawn clearances, a senior official said on Tuesday.
“We are preparing a framework for hydropower development in the 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,” Additional Power Secretary B P Pandey said at a conference on hydropower here. Hydropower is much cleaner, greener and sustainable option, he said, adding that water security is an issue in India and there is a need for storages as well.
Highlighting that reducing the cost of hydroelectric power is one of the major challenges in the hydropower sector, he suggested for financial restructuring together with 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,” Pandey said.
Speaking at the conference Chief Minister of Arunachal Pradesh Kalikho Pul invited private players to install hydropower plants in his state and assured all necessary support.
“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. State is examining various options available for funding the equity participation of state including the option to exit from the same,” he said, solar and hydropower should simultaneously be promoted.
He further said projects between 50-100 MW should be promoted and taken up and there is need to source subsidy funding for the same.
“With a view to raising 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. (PTI)
