The MOU will see the formation of a joint venture company that will be 51% owned by NHPC, and 49% owned by OHPC. Initially, the JV company will develop three hydroelectric projects – Sindol I, II & III – with a total capacity of 320MW on the Mahanadi river, downstream of Hirakud. The JV will allocate 100% power to Orissa State and provide 12% free power generated from the stations to the State Government.
NHPC is actively pursuing development of hydropower potential in other Indian states through Joint Ventures. A JV company Loktak Downstream Hydroelectric Corporation Limited has been incorporated for execution of the 66MW Loktak Downstream Project in the state of Manipur. Another JV Company - Chenab Valley Power Projects Limited - has also been incorporated in association with JKPDC and PTC in the state of Jammu & Kashmir for development of three projects totaling 2120MW in the Chenab river basin. Another JV company to implement the 1500MW Tipaimukh multipurpose project with SJVN Limited and the Government of Manipur is already under advance stage of incorporation.
