Ratle Hydroelectric Power Corporation Limited (RHPCL) and Megha Engineering and Infrastructure Limited (MEIL) signed an agreement for the turnkey execution of the 850 MW Ratle hydel project.
CEO of RHPCL, Deepak Saigal and Vice President, MEIL, Umamaheswara Reddy, signed the contract agreement at the Convention Centre in the presence of Lieutenant Governor Manoj Sinha.
Sinha told the media that the signing was a historic move to realise the goal of making Jammu and Kashmir self-sufficient in the power sector.
He said a large-scale capacity augmentation programme had been undertaken in the power sector resulting in a huge leap in power transmission and distribution capacity. The new power generation projects like Ratle, Pakal Dul, Kiru etc., will bridge the gap in the Union Territories (UT’s) electricity requirements.
The 850 MW Ratle hydel power project will provide massive direct and indirect employment opportunities to the local population. Sinha directed the concerned agencies to lay down a comprehensive mechanism for the skill of the local people, which will provide them opportunities in executing the project.
Sinha said that despite having the capacity to generate 20,000 MW of hydropower, just 3,500 MW of electricity was harnessed in 70 years. The generation capacity will be doubled in the next four years.