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SECRET

No.10/1/2008-NHPC (Vol.V)
Government of India
Ministry of Power

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Annex._____
A'r\ VV<.:Slpage____
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(Please refer para____

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~4oi.rH$hY 91 F\n~noce

oeParttil?i"~ Q,f. a~'p.en~H.tLlre

(PFuH $~ii:p)1). .

l?ub)ect:' J,?lrH Y~~1gte.tQe*~~,qt~P~l(~lt,mlptolect .~.#feg cJrdlT' 9

He.f$.r~nc$i~lnVjt~d t9 the o.,d. :]~t~~r' .NO. '1 OI1;{4o.'O$.~{oNHPG) dat~q

Jun~ . 3q,2c)iO."~f Sio\crE\tary(pnwer)~ddre$se~' to 1M Secretary
. (E~pOtliivre), se<lktiig; on:e~me[,*,xal!lJn frolll t\li' g~i~lInes for Joint
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iss'W$do"by MOinistiy o"f Finance

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ddh';kil!,~e<l. :i't1j~Npartt)j~ht agree$ t,o the request

in a~~ ~y Me)1> to?it il.;v 6 tie tirrt~ .rd~xiti <lii pi ati>t~ iHdg lilacli neis filr
. forming t~l1 J qi hi Ve It!\1r~'\0 l)xee ~!eP~k til blit' ptojili: t wit)1 '\n cqui Iy
paft patr6n (j14~:4i~ by NHPO. JkSP[)cancf Pte respectively
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. The matterW;;s

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Thisissue:s wfth approval. of the FiriClrl8'Mlhisfer.

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SECRET

No.10/1/2008-NHPC (Vol.V)
Government of India
Ministry of Power

!A

Annex._____
Al'\n~.
(Please refer para____ page____

Government of India
Ministry 0' Firyance
Dep'artment of Expenditure

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and PTC and ihfusion of equity' beyond Rs.500 crore by NHPC .in JVC (MIs

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CVPPPL i.o.ChenabValley Power projects Pvt. Ltd.) and investment approval for

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SUbjGct: Public Investment Board. (PIB) Meeting for Ex- post facto approval for

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formation and incorporation 'of Joint Venture Company among NHpJC,JKSPDC

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cor.\structio~ of Pa.kal Du', HE Project.

. Ministry of Power (i'vlP,P) may r~fer to the meeting of the PIB, held on MaybS, ' .

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2 .. ' The PIB considered the proposal. After deliberations, the P.lB noted that the

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project cost is too high, resulting in unsustainable first year tariff of

levelized tariff of Hs. 8.22 p.er unit As such, the PIB directed MoP -to reformulate the

. (i)'

Debt Equity ratio 'of 70:30 may be revisited, as the cost of equity is

comparatively high;
J&K Government may like to consider ways to reduce land cost and

(ii)

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incidence of state taxes;

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(iii)
Escalations, with refe~ence to the estimates based. on current price level,
may be re-examin'ed:' ........-......-.---.-----:-.-.- -

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(iv)

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Effolis may be ma'd(3'lo reduce the completi'dh period ,'proposed at 6 years

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at present.

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MoP may reformulate the projosal, before bringing it agafrL for cQnsideration of
the P113.
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Sil. Rakesh Jain, J.S. &.F.A; Ministry of Power, New Delhi-110001

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Ministry of Finance, 0/0 Expenditure,

~.6 q .05.2013

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(Neeh,ar RanlahIPan~ey)
Deputy Secretary (PF II)
{011-23093109, neehar.p@nic.in]

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This issues with the approval

of Finance ~tretary.
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Rs.. 9.74 pe~unit and

proposal based orl the following recommendations:

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to consider MoP's proposalon the subject mentioned above .

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P.F.

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No, 15(12)/PF-11I2012 dated

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