New Delhi [India], November 4 (ANI): The Cabinet Committee on Economic Affairs (CCEA) on Wednesday approved an investment of Rs 1810.56 crore for 210 MW Luhri Stage-I Hydroelectric Project located on Satluj river. The project will generate 758.20 million units of electricity annually.
Situated in Shimla and Kullu districts of Himachal Pradesh, the project is being implemented by Satluj Jal Vidyut Nigam Limited (SJVNL) on Build-Own-Operate-Maintain (BOOM) basis with active support from central and state governments.
Briefing reporters about the cabinet decisions, Information and Broadcasting Minister Prakash Javadekar said the power generated from the project will help in providing grid stability and will improve the power supply position.
"The project will lead to a reduction of 6.1 lakh tons of carbon dioxide from the environment annually, thus contributing to an improvement in air quality," he said.
An official release said the project shall be commissioned within a span of 62 months.
It said the MoU of this project was signed with Himachal Pradesh government during Rising Himachal, Global Investor Meet, which was inaugurated by Prime Minister Narendra Modi on November 7, 2019.
The central government is also supporting this project by providing grant of Rs 66.19 crore for enabling infrastructure which has helped in reducing in power tariff, the release said.
The release said construction activities of the project will result in direct and indirect employment to around 2000 persons and will contribute to the overall socio-economic development of the state.
Himachal Pradesh will benefit with free power worth around Rs 1140 crore from the project during the project life cycle of 40 years.
The project affected families will be provided with 100 units of free electricity per month for ten years.
The release said SJVN has forayed into the fields of renewable energy, power transmission and thermal power generation.
It has envisaged internal growth targets of total installed capacity from all sources of 5000 MW by 2023, 12000 MW by 2030 and 25000 MW by 2040. (ANI)