NHPC board approves merger of Lanco Teesta VI hydro power project
A hydro power project approved by NHPC board will supply power at a tariff of Rs 4.07 per unit. This project is likely to be completed in next four years.
The NHPC had bagged the 500 MW Teesta VI hydro power project under corporate insolvency resolution process.
Earlier, the Hyderabad bench of the National Company Law Tribunal (NCLT) had approved the resolution plan of NHPC on July 26, 2019, for debt-ridden Lanco Teesta. This was the first time a state-owned company had bagged a project under the IBC (Insolvency and Bankruptcy Code). This has brought a lot of hope for upcoming hydro power projects in India.
Lanco Teesta Hydro Power Ltd was executing the 500 MW (125 MWx 4) Teesta VI hydro project on Teesta river in Sikkim.
What is Hydro Power plant?
Hydropower is using water to power machinery or make electricity. Water constantly moves through a vast global cycle, evaporating from lakes and oceans, forming clouds, precipitating as rain or snow, then flowing back down to the ocean. The energy of this water cycle, which is driven by the sun, can be tapped to produce electricity or for mechanical tasks like grinding grain. Hydropower uses a fuel—water—that is not reduced or used up in the process. Because the water cycle is an endless, constantly recharging system, hydropower is considered a renewable energy.
When flowing water is captured and turned into electricity, it is called hydroelectric power or hydropower. There are several types of hydroelectric facilities; they are all powered by the kinetic energy of flowing water as it moves downstream. Turbines and generators convert the energy into electricity, which is then fed into the electrical grid to be used in homes, businesses, and by industry.