JULY 20238TOP STORYGOVERNMENT PLANS TO INVEST $16,000 BILLION ON HYDROPOWER PROJECTSUP GOVERNMENT APPROVES 2 THERMAL POWER PROJECTS WORTH RS 18,000 CR IN SONBHADRA'S OBRThe Uttar Pradesh government approved the construction of two "Obra D" thermal power projects in Sonbhadra's Obra, each to be rated at 800 MW and costing Rs 18,000 crore. The Chief Minister Yogi Adityanah's Cabinet approved the "Obra D" thermal power plants. The projects will be carried out by the government in a 50:50 joint venture with the NTPC, a power plant owned by the central government. The announcement stated that although 30 percent equity will be provided for the projects' implementation, the remaining 70 percent of the money will be obtained from financial institutions.The 'Obra D' thermal power plants will be the state's first ultra super critical unit. The plant will brag of cutting-edge technology, high efficiency, and low coal usage, which will lower the cost of power generation and lower energy rates in UP, according to the statement. It stated that the first unit would be ready in around 50 months.The press release quoted Urban Development and Energy Minister A K Sharma as saying, "We had signed an agreement with NTPC to put up a thermal plant at Obra during the Global Investors Summit. The Council of Ministers has today authorised the project. About 500 acres will be used to build this plant, and preparations will be made for additional land if necessary.to the energy minister, and the two facilities will contribute close to 25 percent of that capacity. "We hope that this plant becomes into a national energy hub, not only for the state. The utilisation of cutting-edge technologies will result in lower coal usage at the new plants, and the nearby NCL coal mines will result in much lower coal transportation costs, he added. We currently pay Rs. 5.50 per unit for power, but thanks to this plant, we will only have to pay Rs. 4.79. In other words, we will be able to offer affordable electricity. The power ministry has recommended a plan with an initial investment of roughly 16,000 crore to help new hydropower projects financially. The financial assistance will include grants and supporting infrastructure that will allow the north-eastern states to choose stakes in such projects. According to one of the persons, the plan would be included in the larger hydropower strategy that was already submitted to the Cabinet for approval last month.A fiscal support of roughly Rs. 12,000 crore will be given to supporting infrastructure for hydropower projects. While roads and bridges now make up the enabling infrastructure for such projects, the proposal also calls for the addition of transmission lines from the power plant to the pooling stations. Pumped hydropower storage initiatives might potentially profit financially.The government proposes a hydroproject scheme with a $16,000 crore budget. According to the source, the total sums anticipated to be allotted for such help is 4,000 crore. North-eastern states that seek to form a joint venture for such projects are expected to receive financial assistance for their stake.Another source stated that Arunachal Pradesh holds the majority of the potential for future hydropower capacity. According to a report by the Parliamentary Standing Committee on Energy, among states with hydropower potential, Arunachal Pradesh has the largest identified capacity.The involvement of states as stakeholders may hasten the development of such projects. The sources indicated that the north-eastern states may use the proposed financial support if they are unable to fund their equity infusion. Indian hydropower is expanding as the nation strives to increase its capacity for renewable energy.
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