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| SIKKIM HYDROELECTRIC POWER PROJECT INITIATIVE | |||
| NAFA Private Limited have entered into Memorandum of Understanding with “MYLCOS” (Power Co op of Sikkim) for initiating the structure of power bonds and equity’s market and to channelize capital funds required for the upcoming Hydroelectric power projects in both public and private sector in the state of Sikkim. | |||
| Sikkim is a small Indian state sandwiched between Nepal and Bhutan and is located in eastern Himalaya. The state is a part of inner ranges of the mountains of Himalayas with elevations ranging from 300 to 8583 meters above mean sea level and consists of lower, middle and higher hills; alpine zones and snow bound peaks. Sikkim is best known for its pristine beauty and points of tourist attractions thus rightly called ‘Small but Beautiful’. Tourism and hydropower sector is the main source of income for the State. | |||
| The topography of the Sikkim and lack of mineral resource in the region makes development of thermal or petroleum based project very inefficient and costly. Attention made by the planners in recent years has put this tiny state on the hydropower map in the country. The Government is hounding for the development of medium and large power project on Rangit, Teesta and its tributaries. Till 1993, the state government was focused on the small hydro project to fulfill the energy need of the state. The attention has now been shifted to the development of bigger projects as a source of state revenue. | |||
| Sikkim is one of the hydro-rich State of India. The first hydro power station was constructed in year 1964. Teesta and Rangit river system has potential of nearly 8000 MW with firm base of 3000 MW. Presently, hydro capacity of 100.70 MW exists in the state, which includes 60MW Rangit-III H.E. Project constructed on great Rangit River. The state government has already awarded 29 large hydro projects totaling up to 5287 MW and the projects are under different stages of construction or investigation by the government or private agencies. All projects, except 510 MW Teesta-V HEP, have been commissioned during 11th five-year plan (2007-2012). According to the Power Survey done by the CEA, the peak power demand is 52 MW in the state at peak load during year 2004-05. TheRangit Power Station, which was commissioned in the year 2002, gives share of 12% free power. After the construction of Teesta (stage-V) this year and other hydroelectric projects in future, the surplus power will enable the state to earn substantial amount of revenue. Approximately 202.75 MW small/ mini hydro potential exist at 68 identified sites in the State out of which only a part of it has been developed. Nearly 37.70 MW small hydro projects are in operation by Sikkim Power Development Corporation whereas other 16 MW projects are under various stage of development at 4 sites. | |||