The Union Government has approved the investment of Rs 1810.56 crore for 210 MW Luhri Stage-I Hydro Electric Project (HEP) located on river Satluj in Shimla and Kullu districts in Himachal.
The Chief Minister Jai Ram Thakur on Wednesday thanked the Union Government and Prime Minister Narendra Modi for approving the investment.
This project will generate 758.20 million units of electricity annually. The Cabinet Committee on Economic Affairs chaired by the Prime Minister has approved this investment, the Chief Minister said. Thakur said that this project was being implemented by Satluj Jal Vidyut Nigam Limited (SJVNL) on Build-Own-Operate-Maintain (BOOM) basis with active support from Union Government and State Government. The MoU of this project was signed with the Himachal Pradesh Government during ‘Rising Himachal, Global Investor Meet’, which was inaugurated by the Prime Minister in November last year.
He said that the Central Government was also supporting this project by providing grants of Rs. 66.19 crore for enabling infrastructure which has helped in reducing the power tariff. Thakur said that Luhri Stage-I Hydro Electric Project would be commissioned in about five years and power generated from this project would help in providing grid stability and will improve the power supply position.
The Chief Minister further said that the project would provide direct and indirect employment to around 2000 persons and would contribute to overall socio-economic development of the state.
Further, Himachal Pradesh will benefit with free power worth around Rs 1140 crore from Luhri Stage-I Hydro Electric Project, during the Project Life Cycle of 40 years, he added.