Speaking to media persons after the foundation stone laying ceremony of Common Sewage Treatment Plant (STP) in Rajbagh Srinagar, NC Working President Omar Abdullah said the State Government would not give a single Hydroelectric Power Project to NHPC without an agreement of a Joint Venture that would mandate the return of the project to the State after an agreed upon period of time. Omar Abdullah said that the State Government will only cooperate with NHPC if NHPC cooperated with the State Government in return, a party statement said on Tuesday.
“There are various projects under the consideration of the State Government and there are various projects that NHPC has been expressing an interest in. Let me make it very clear – if NHPC does not agree to sign Joint Venture agreements for these projects with the State Government, we would choose that these projects wait till the State can invest in them independently rather than handing them over to the NHPC”, Omar Abdullah said.
Omar Abdullah said that the State Government’s and National Conference’s priority was that J&K becomes self-reliant in the Power Sector and that huge strides were taken towards this goal in the last five and a half years with the addition of more than 1,500 Megawatts of Power to the State’s Power Portfolio.
“In addition to the 1,500 Megawatts already added, edifice has been laid for an additional 9,000 Megawatts of hydro-power to be added in the coming years. We have focused on development of Hydro-Power in the State through the Public Private Partnership (PPP) and Joint Venture formats so that the State can get these projects back after stipulated time periods. This policy will continue. It is our compulsion for lack of indigenous funding to invite external firms to develop our vast hydro-electric power potential but we are also ensuring that these projects are returned to the State at the completion of the agreed upon contracts and agreements”, Omar Abdullah said.