Due to lack of financial visibility, the State government on Tuesday officially announced the discontinuation with two power projects - the Kynshi stage-I and Upper Khri stage I & II.
Chief Minister Conrad K Sangma while speaking to reporters disclosed that these hydropower projects had been originally contracted with private power developers several years ago. Specifically, Kynshi stage-I was initiated in 2007, while Upper Khri stage I & II were launched in 2012-13.
He explained the rationale behind this decision, stating, "Due to the financial non-viability of these projects and the high rates associated with them, along with the extended implementation timelines by various companies, the Cabinet has chosen to terminate both these projects—Kynshi stage-I and Upper Khri stage-I & II."
Also Read: Uniform Civil Code complex for diverse India, says Meghalaya CM Conrad Sangma
The Chief Minister went on to clarify that the government and the relevant department would promptly explore opportunities to engage new partners or potentially reconfigure partnerships, considering that the primary issue lay in the current projects' unfeasibility regarding rates. Furthermore, advancements in technologies such as pump storage and the potential to optimize water usage by combining resources from different projects, as exemplified by Upper Khri stage I & II, necessitated a reevaluation.
The Chief Minister affirmed, "Therefore, the government and the department will immediately commence work in this regard, with the hope that we will soon invite expressions of interest to proceed with these projects in their revised forms."
Copyright©2023 Living Media India Limited. For reprint rights: Syndications Today