Shillong: Meghalaya Cabinet on Tuesday scrapped two power projects – the 450 MW Kynshi stage-I and Upper Khri Stage I & II after they were found to be financially unviable.
Meghalaya CM Conrad K Sangma said the government had signed two hydropower projects with private power developers several years ago.
The Memorandum of Agreement (MoA) for Kynshi was signed with M/s Athena Projects Pvt Ltd on a BOOT basis on 11-12-2007. The Upper Khri stage I & II was signed in 2012-13 with M/s SM Energenco Ltd.
“Because of the financial non-viability of these projects and the rates coming up too high and also the time taken by the different companies to implement them, the decision was taken by the Cabinet that both these projects – Kynshi stage– I and Upper Khri stage– I & II projects will be terminated,” CM Sangma said.
He also informed that the government will immediately move to look for new partners or maybe the same partners but in a new format because the projects in their current form are not viable in terms of the rates.
Referring to the new technologies being employed in power generation where pump storage and other facilities can be used and also the combination of water being released from one project and being used downstream for another project like in the case of Upper Khri Stage I & II, he said the projects also need to be changed.
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“Hence, the government and the department will immediately work in that aspect and we hope that very soon we will be able to have the expression of interest to move forward with these projects in its new form,” he said.
The chief minister explained that the major reason for the termination of the contract for Kynshi Stage-I was the delay on the part of the contractor to execute the work on time.
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