Project to be completed in 42 months
SRINAGAR, JUNE 20: The State Administrative Council (SAC) which met here under the chairmanship of Governor, Satya Pal Malik accorded sanction to the award of contract for EPC mode of execution of the 12 MW Karnah Hydro Electric Project (HEP) at village Pingla, Tehsil Karnah, District Kupwara to the L1 bidder, M/s Angelique-SAPU Consortium at the quoted cost of Rs 96.967 Crore with applicable taxes.
SAC authorized the Managing Director, JKSPDCL to execute all such documents and take such actions as may be required in this regard.
The completion time of the Karnah HEP is 42 months from the date of award of work which includes the time required for pre-construction activities including infrastructure works. The project will cater to the power demand of the area and will also be a source of their socio-economic upliftment.
The project is proposed to be funded with a debt-equity ratio of 70:30. While the debt requirement shall be raised from financial institutions/banks like PFC, REC and J&K Bank, the equity portion for the project i.e 30% of the total project cost is proposed to be funded by the Government of India (Gol) from the Prime Minister Developmental Programme funds (PMDP). In case of any additional requirement of funds, same is proposed to be met from the internal resources of JKSPDCL.
The Karnah HEP is a run-of-river project with an installed capacity of 2 MW located on Owari Nag Nallah at village Haridal in district Kupwara of Jammu and Kashmir state. The project was commissioned in 1991 but the scheme underwent forced stoppage many times in between September 1992 and July 2010 due to various reasons including damages due to earthquake of 2005, flash flood of 2010 etc. The project was finally made functional in July, 2011. A Detailed Project Report (DPR) of Karnah HEP was prepared in 2011-12 for enhancing the power generation capacity from 2 MW to 12 MW besides shifting the power house downstream by about 1.5 km near village Khudri. After a competitive bidding process, the Board of Directors of JKSPDC in its 74th meeting held on 22.04.2019 approved the award in favour of M/s Angelique-SAPU Consortium