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| Failed CVPPL to issue fresh tenders for Pakal Dul HEP | | | Bashir Assad
Srinagar, Sept 18: After it failed miserably to attract the foreign bidders for the construction of 100 MW Paka Dul Hydroelectric Power Project, the Joint Venture Company (Chenab Valley Power Projects Corporation) is now re-issuing the tenders on September 20.
Pakal Dul hydroelectric project has been appraised by Central Electricity Authority at an estimated cost of Rs. 8847.81 crore. The project has also secured environment, forest, defence, IWT, CWC and Geology & Mining clearances. It is one of the three major power projects to be constructed by State Power Development Corporation, National Hydroelectric Power Corporation and Power Trading Corporation of India in joint venture under Chenab Valley Power projects Private limited. As per the agreement reached between the partners the share of JKSPDC, NHPC and PTC in the company shall be in the ratio of 49:49:2 respectively and of the total power generated from the projects, the share of JK shall be 62 percent. Besides, J&K will have first right of refusal for the remaining 941 MWs from the three projects.
Meanwhile, the Public Investment Board (PIB) had earlier last month recommended NHPC to revise the 70:30 debt-equity ratio for 1000 MW Pakal Dul hydroelectric project. The project is being executed by CVPPPL, with equity participation of 49 per cent, 49 per cent and 2 per cent by NHPC, JKSPDC and PTC respectively. In the PIB meeting held on August 5 to discuss NHPC's equity participation in the project, the Board stated that the equity amount is high and hence the debt-equity ratio must be revised.
PIB's approval of Joint Venture Company and NHPC's equity participation in the project is one of the major constraints in project development. Sources told Early Times today that authorities at CVPPL have decided to re-invite global tenders for construction of 1000 MWs Pakal Dul power project after failing to attract the internal bidders at the first instance to participate in the bidding.
They said, CVPP had to cancel the earlier tenders and relax the bidding rules because only two companies had participated in the bidding process when the rules envisage that minimum three bidders should participate in the bidding.
Sources averred that after relaxing the conditions, the CVPPL is hopeful that this time the bidders may come forward in good number. "We will be reissuing global tenders for Pakal Dul. The process will start on coming Friday," a senior official in CVPPL told Early Times.
Pakal Dul is a reservoir based scheme to be set up on river Marusudar of Chenab basin, having an identified potential of 10,000-MWs, in Kishtwar district. The other two projects which will be constructed under CVPPPL include Kiru (600 MW) and Kawar (520 MW).
"We will be taking up execution of Pakal Dul first followed by Kiru and Kawar for which too the global tenders will be invited," said the official.
Pakal Dul is scheduled for completion in next 6-years and is targeted to start energy generation by 2018 while as the completion target for Kiru and Kawar are four to five years.
Of the total 2100 MW generated by the projects the share of the state will be around 1300 MWs.
J&K is presently grappling to better the state's power scenario. Against a peak demand of around 1700 MW the local generation hover around 800 MWs. The remaining energy is imported from the northern grid. Last year the state's Power Purchase Bill was around Rs 2500 crore, while the revenue in the power sector was only Rs 1200 crore. The power Bill for this fiscal is set to touch Rs 3000 crores. |
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