Thursday, July 21, 2011


Indian state-run hydropower utility NHPC Ltd signed an agreement to set up three power plants in a joint venture with eastern Orissa state for an investment of 26 billion rupees ($585 million), the state's energy minister said on Thursday.
NHPC will have a 51 percent stake in the joint venture with Orissa state-run Hydro Power Corp Ltd, Atanu Sabyasachi Nayak told Reuters.
The hydropower projects will be built in about five years, with a total capacity of 320 megawatts.
"It will entail for an investment of about 2,600 crore with an annual energy generation of 1,090 million units, having an installed capacity of 320 MW," Nayak said, adding there will be no displacement due to these projects. ($1 = 44.450 Indian Rupees).