State set to buy 60 pc power from new projects
Source: The Sangai Express
Imphal, October 19 2012:
Once the State Hydro-Power Policy which was formulated after Chief Minister O Ibobi took over additional charge of the Power portfolio comes into effect, the State would buy 60 per cent of the power generated from all hydro-power projects which may be taken up in the State anew.
An official source informed that a Cabinet meeting held yesterday decided to finalise the draft report on State Hydro-Power Policy.
Notably, it was on August 9 last that the State Cabinet mooted the State Hydro-Power Policy.
Even though Manipur has hydro-power potential of 2190 MW, the State has exploited only 0.6 per cent.
After keeping back the State's power requirement of 200 MW, additional power generated in the State would be sold off to other States to earn revenue, informed the official.
Under the new policy, companies which intend to take up power projects in the State would be selected through a process of competitive bidding and the selected companies would be allowed to run their projects for 40 years after which the State Government would take over the projects.
So far, the Power Department has identified six areas where mega power projects can be taken up.
Whereas Power Department is allowed to take up power projects whose installed capacities are above 5 MW, it is expected that many power companies would venture into the State in the coming years.
Certain percentage of the power generated should be given to the local people and the State Government.
Moreover, companies would be asked to deposit 1.5 per cent of the project cost with the State Government and this amount would be used for welfare and development of the areas where the power projects are located.
For this, local area development committees would be set up, added the source.