Cabinet Creates SPV For Its Odisha Thermal Project

KL Report

SRINAGAR

The Cabinet which met here today under the chairmanship of Chief Minister Omar Abdullah approved the formation of Special Purpose Vehicle (SPV) for development of the Coal Block at Kudnali Laburi, (Talcher) in Odisha allocated jointly to JKSPD & NTPC by the Union Ministry of Coal.

The SPV Board of Directors will be composed of five Directors including Administrative Secretary PDD J&K who will be the Chairperson of the Board of Directors.

The approval also includes signing of Joint Venture Agreement by the J&K SPDC & NTPC besides setting up of End Use Power Plant in Odisha with NTPC.

The allocation of the Coal Block is a major achievement for Jammu & Kashmir, which suffers from Energy deficit especially during winter season when the generation of power through various HEPs decreases significantly owing to low discharge in the rivers. The State Government with this major initiative will be able to establish a dedicated base load Thermal Power Station which would effectively wipe out the current energy deficit of nearly 28 per cent and improve the reliability of power supply round the year.

The decision is in line with the broader policy of the State Government under the leadership of Chief Minister Omar Abdullah to make the State Energy sufficient by harnessing huge hydro potential available to the State along with the Solar and Thermal Power.

Within next five years the State Government expects that these efforts will prove to be fruitful for the people and will give major boost to the Economy of the State.

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