The recent heavy rains in Himachal Pradesh and an abnormal rise in the Satluj river’s silt levels – forcing the temporary closure of major hydro projects – has not affected operations at both of JSW Energy’s hydro plants in the state, company officials said.
The Jindal group subsidiary JSW Energy operates the 1,000 MW Karcham Wangtoo hydroelectric project and the 300 MW Baspa-II plant further upstream in Kinnaur district, which the company had acquired from Jaiprakash Power Ventures for Rs 9,700 crore three years ago.
"Both Karcham Wangtoo and Baspa are snow-fed plants with most of the dam built underground, so we were not affected by the heavy rains," JSW Chief Operating Officer (Energy Business) Sharad Mahendra told visiting reporters here, with the surrounding peaks laced with the season’s first snowfall that had occurred overnight.
The plants currently supply Punjab, Rajasthan, Uttar Pradesh and Haryana, besides Himachal Pradesh, at an average tariff of Rs 4.39 per unit under long-term power purchase agreements (PPAs) with these states, Mahendra said.
Himachal government is supplied 12 per cent of the total generation free of cost, according to an agreement with the state government.
Earlier this year, JSW secured a PPA of 200 MW with the Punjab State Power Corp to be supplied from the Himachal hydro plants. With this, the company’s consolidated long-term PPA proportion has currently risen to around 74 per cent.
The largest hydropower plant in the private sector, Karcham Wangtoo is a run-of-the-river project on the Satluj, while the Baspa plant is named after the upstream tributary on which it stands.
In purchasing these plants from the debt-ridden Jaypee Group, JSW Energy is looking to acquire stressed hydro projects to increase its green energy portfolio, the COO said.
"We want to increase our hydro power portfolio and we are definitely looking at various opportunities including stressed hydro projects at present," he said. "We are evaluating a few of them in addition to reviving our own 240-MW Kutehr project.">