Srinagar, Jan 15 (KNS): The Chenab Valley Power Projects Private Limited (CVPPP) constituted by the government to explore all the possibilities to tap maximum power potential at Chenab Valley, has so far failed to start any power project.
According to the details available with KNS, CVPPP was incorporated on June 6, 2011 as a Joint Venture Company of NHPC Limited, JKSPDC and PTC (India) Limited for execution of four Hydroelectric Projects namely Pakal Dul, Kiru and Kwar with aggregate capacity of 2220 MW and Dul Hasti stage two at Chenab River Basin in district Kishtwar with equity participation of 49%, 49% and 2% by NHPC, JKSPDC & PTC respectively.
But according to the official sources the management of CVPPP has miserably failed to complete any of these projects despite receiving crores of rupees annually as salaries.
“Despite spending crores on these projects over the years, the Corporation is on the death bed with no progress being made to start these projects in generating hydroelectricity,” an official of CVPPP said.Click Here To Follow Our WhatsApp Channel“The Corporation is spending a huge sum on its almost 250 employees, but there has been no progress in generating hydroelectricity,” sources said.
Officials in the corporation said that the important decisions were pending due to non-availability of directors as no board was in place.
Sources said that the Central Electricity Authority of India has also received the complaints about the misappropriation of funds meant for generation of electricity from the CVPPP since 2010.
Managing Director, CVPPP told KNS that they have got the clearance from the forest, environment, and finance department for four projects. “But none of the projects has been started to generate hydroelectricity. We are not able to take any decision since there is no board of directors in place,” the Managing Director said. (KNS)