J&K to lease out land for 850 MW Ratle HEP project
Aiming to becoming power surplus Union Territory (UT) in next five years, the Jammu and Kashmir Government is mulling to lease out land to Ratle Hydroelectric Power Corporation Limited (RHPCL) for the development of 850 Mega Watt (MW) Ratle Hydro Power Project.
RHPCL is a joint venture between J&K State Power Development Corporation (JKSPDC) Limited and National Hydroelectric Power Corporation (NHPC) Limited with equity participation of 51% and 49% respectively for development of 850 MW Ratle HEP over Chenab river near Drabshalla village in Kishtwar district.
Credible source informed that the J&K Power Development Department (PDD) to lease out 289.48 Hectare out of 567.22 Ha of land acquired by JKSPDC, under the provisions of J&K Land Grants Act, 1960 and as per the requirements of MoU signed between JKSPDCL and NHPC.
He added that the process will be initiated only after receiving the green signal from the State Administrative Council.
“The land is acquired by the J&KSPC and it was leased out to then contractor but the same has stopped work without any notice to the Government,” he added.
It is pertinent to mention here that the project was first awarded to M/S GVK Ratle HEP in 2010 through IPP mode. In July 2014, the developer abruptly stopped the work on the project without any prior notice to the Procurer, the J&K PDD or to the J&K SPDC. The PPA with the developer was terminated in 2017 and the matter went into the Arbitration Tribunal.
After the approval of the J&K Government and Government of India, a supplementary MoU was signed among J&K Government, JKSPDCL and NHPC Limited on 3rd January, 2021 in the presence of the LG and Union Minister of State (I/C) Power, R K Singh
In the meanwhile, the Union Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi gave its approval on 20th January for the investment of Rs.5281.94 crores for the development of 850 MW Ratle HEP.
