RANGIT-IV HEP (JV)

Rangit Stage-IV Hydroelectric Project located in Western Sikkim is a run off the river scheme envisages construction of a 44m high concrete gravity dam with reservoir having live storage of 1.22 MCM to generate 120 MW (3x40MW) of power utilizing a net head of 103.67m. The design energy of the project is assessed as 507.88 MU in a 90% dependable year (Considering environmental flow as 15% of average inflow of lean season in 90% dependable year). Construction of the project started in June’ 2008; however, the project stalled in October’ 2013 due to paucity of funds post cost overrun. Due to default in payment to lenders, CIRP proceedings were initiated on JPCL vide Hon’ble NCLT order dated April 9’ 2019. Hon’ble NCLT approved the NHPC Resolution Plan vide NCLT Order dated 24.12.2020. Monitoring Committee for implementation of approved Resolution Plan was constituted with suitable representation from NHPC, Creditors and Resolution Professional. First meeting held on 21.01.2021. MoP on 30th March 2021 conveyed Investment Approval for acquisition of Jal Power Corporation Ltd (JPCL) and construction of Balance Works. On 311st March 2021, NHPC has taken over Jal Power Corporation Limited after payment of resolution amount of Rs. 165 Crore to the Lenders.