ITANAGAR, Aug 28: Arunachal Pradesh chief minister Pema Khandu on Wednesday praised the Union Cabinet for approving equity support of Rs 4,136 crore to the northeast states for developing hydropower projects, totalling 15,000 MW capacity over the next eight years.
The Cabinet, chaired by Prime Minister Narendra Modi, has approved the proposal of the Ministry of Power for providing central financial assistance (CFA) to the state governments of NER (North East Region) towards their equity participation in the development of hydroelectric projects through Joint Venture (JV) collaboration between state entities and Central Public Sector Undertakings.
“I am so glad to learn that the Union Cabinet has approved an initiative to boost hydroelectric power development in the North Eastern Region (NER). With a Central Financial Assistance (CFA) of Rs 4,136 crore allocated from FY 2024-25 to FY 2031-32, this scheme will support the development of hydro projects with a cumulative capacity of around 15,000 MW. We are grateful to Hon PM Shri @narendramodi ji for his continued focus to push growth in the region,” Khandu posted in X.
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He said the initiative would be instrumental in transforming the hydroelectric topography of Arunachal Pradesh and the broader NER.
The grant towards equity portion of the state government of the region would be capped at 24 per cent of the total project equity subject to a maximum of Rs 750 crore per project.
The cap of Rs 750 crore for each project would be revisited, if required, on a case-to-case basis. The ratio of equity of the CPSU and the state government in the joint venture would be maintained at the time of disbursing of the grant. (PTI)
