The power ministry has asked the Joint Venture partners for 1500-mw Tipaimukh hydroelectric project to finalize the Memorandum of Association and Article of Association for the project expeditiously. The delay in finalization of these documents has been pushing back the formation of the Joint Venture Company to be formed for the execution of the project.
The JVC for the project is proposed between NHPC, SJVN and Manipur state government, having stakes of 69 per cent, 26 per cent and 5 per cent respectively. The Joint Venture Agreement was signed among all stake holders on April 28, 2010 for implementation of the project in Manipur. Thereafter, the Promoters Agreement was signed among all stake holders on October 22, 2011. The draft Memorandum of Association and Article of Association are currently under discussion amongst the JV partners.
Dissatisfied with NEEPCO’s performance, Manipur state government pushed for the project to be developed as a Joint Venture. However, the implementation activities on the project have been held up due to the pending JV formation. Once the JV is in place, the environment clearance will also be transferred from the previous developer NEEPCO to the JVC and other implementation activities with respect to the project will be taken up.
The project was envisaged for completion in the 12th Plan period. However, with the JV formation still pending, the project commissioning is likely to be pushed further.
The Tipaimukh hydroelectric project envisages construction of a 162.8 m high rockfill dam, at 500 m downstream of the confluence of the river Barak with Tuivai. Apart from power generation, the project is expected to control floods on 2039 square kilometers of land. The total land requirement for the project is about 31,950 hectares, out of which 26237 ha is forestland, while 5713 hectares are owned privately. The total cost of project development has been estimated at Rs 9,211 crore at the September 2008 price level.