New Delhi, Sep 11 (IANS) The Cabinet on Wednesday approved a revised scheme of budgetary support for the cost of enabling infrastructure for hydropower projects (HEPs) with a total outlay of Rs 12,461 crore.
The revised plan of the Ministry of Power for generation capacity of about 31,350 MW will be implemented from FY 2024-25 to FY 2031-32.
“This revised scheme will help in faster development of hydropower projects, improve infrastructure in remote and hilly project locations and provide direct employment to a large number of local people along with indirect jobs,” the Cabinet said.
This will encourage fresh investments in the hydropower sector and encourage timely completion of new projects.
The Government is taking several policy initiatives to address the issues impeding hydropower development such as remote locations, hilly areas, lack of infrastructure etc.
To promote and further improve the hydropower sector, the Cabinet in March 2019 approved measures such as declaration of large hydropower projects as renewable energy sources as well as budgetary support.
The scheme will be applicable to all hydropower projects of capacity above 25 MW, including private sector projects, awarded in a transparent manner.
The scheme will also apply to all pumped storage projects (PSPs), including captive/merchant PSPs, provided the project is awarded on a transparent basis. According to the Cabinet, a cumulative PSP capacity of about 15,000 MW will be supported under the scheme.
–IANS
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