Itanagar, June 13 (IANS) The Arunachal Pradesh government on Friday declared the years 2025-35 as the “Decade of Hydro Power” to exploit the state’s hydropower potential estimated as 58,000 MW.
A senior official said that during the ‘Decade of Hydro Power’, the government aims to undertake strategic policy and governance measures not just to harness the hydropower potential through a judicious mix of mega, large and small hydroelectric projects, but also to create a stable and supportive policy and regulatory framework for the overall development of the industrial ecosystem in the state.
“These would be a source of economic growth and as a means of generating employment and self-employment opportunities for the youth of Arunachal Pradesh,” the official said. He said that with around 19 GW of hydropower projects under development with cumulative investments of over Rs 2 lakh crore in the next 10 years, Arunachal Pradesh is estimated to receive annual revenues of Rs 4,525 crore from the sale of free power from hydro-electric power (HEP) projects from 2035 onwards.
The Cabinet, chaired by Chief Minister Pema Khandu, on Friday approved the creation of an escrow account for strategic management and effective utilisation of the revenue generated from the proceeds of free power from HEPs. By effective management of these benefits, the state can make strategic and financial decisions about investing in the overall development of the state, the official pointed out.
This initiative would not only streamline financial processes but also ensure that the benefits of free power are maximised for the state’s long-term sustainable growth and prosperity, ultimately contributing to the realisation of its strategic energy goals and the well-being of its citizens, the official pointed out.
The Cabinet was briefed on Friday about the strategic and national security significance of the proposed Siang Upper Multi-purpose Project (SUMP), declared as a ‘National Project’ by the Government of India in 2008.
The Cabinet also took note about the concerns expressed by certain sections of people regarding preparation of the Pre-Feasibility Report of the SUMP, and the measures undertaken by the State Government for allaying fears and building consensus amongst likely Project Affected Families (PAFs) regarding this ‘National Project,’ through regular and detailed interactions with likely PAFs and various interactive meetings held at various levels by the State Government regarding the urgent need for preparation of the PFR for the SUMP.
–IANS
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