PSU NEWS
SJVN Signed A Concession Agreement With Ministry Of Economic Affairs
Shimla: SJVN’s Joint Venture (JV) Kholongchhu Hydro Electric Limited (KHEL) today signed a Concession Agreement (CA) with Ministry of Economic Affairs, Royal Government of Bhutan. On behalf of SJVN, the agreement was signed by Sh. Sanjay Garg Managing Director, KHEL and Sh. Karma P Dorji, Director Department of Hydropower & Power Systems (DHPS), Royal Government of Bhutan. The agreement was signed in the esteemed presence of Dr. S Jaishankar, Hon’ble External Affairs Minister, Govt. of India, Dr. Tandi Dorji Hon’ble Foreign Minister, Royal Govt. of Bhutan and Sh. Nand Lal Sharma, Chairman & Managing Director, SJVN Limited.
Hon’ble External Affairs Minister, Govt. of India, Chairman & Managing Director, SJVN and other senior officials of Govt. of India attended the function through video conference. With signing of this agreement, the issue of Power sale between JV partners stands resolved, which also bears the consent of both the governments (India & Bhutan).
Sh. Nand Lal Sharma, Chairman & Managing Director, SJVN said that SJVN is implementing 600 MW Kholongchhu Hydro Electric Project in Bhutan in Joint Venture with Druk Green Power Corporation (DGPC). Inter-Governmental Agreement between Royal Govt. of Bhutan and Government of India for implementation of Kholongchhu HEP was signed on 22.04.2014. Hon’ble Prime Minister of India, Sh. Narendra Modi laid the foundation stone for the Project on 16.06.2014.
He further informed that Kholongchhu HEP with the proposed capacity of 600MW on the river Kholongchhu in Bhutan will generate 2569 MU annually. The estimated cost of the project is Rs. 4632.80 Crore at March 2019 price level.
Sh. Sharma said that this project will be a major milestone in the journey of SJVN towards achieving installed capacity of 5000 MW by 2023, 12000 MW by 2030 and 25000 MW by year 2040.
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