The much delayed 900MW Purulia pumped storage project in India, originally to be executed by the West Bengal State Electricity Board (WBSEB), will now be carried out by a joint venture with the National Hydroelectric Power Corporation (NHPC). A memorandum of understanding was signed on 25 May 2001 in New Delhi between the West Bengal state government and NHPC. In the joint venture NHPC will have 67% equity, along with management control, while the state government will hold the balance of 33%..ï„©The 4×225 MW project was sanctioned by the government in February 1994. A year later, an agreement was signed by the state government with the Overseas Economic Corp-oration Fund of Japan (now the Japanese Bank for International Co-operation) for its part-funding. How-ever, for various reasons, WBSEB could not complete the project.ï„©The joint venture is now endeavouring to complete the scheme by 2005, a delay of three years. Once completed it will help to restore the presently skewed hydro-thermal ratio of 3:97 in the state, which makes it difficult for the latter to receive peaking support in periods of high demand. The power generated by the project would be sold to WBSEB through a PPA.