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Investment sought for Melana hydro project

Central Electricity Board clearance has been given for the 86MW Melana hydro power project in Himachel Pradesh state in India.

Rajasthan’s Spinning and Weaving Mills (RSWM), the flagship of the LNJ Bhilwara Group of India, will be operating the project through its subsidiary — the Melana Hydroelectric Project (MHEP).

The total project cost has been estimated at Rs3600M, which will include an equity of over Rs1000M. RSWM is reported to be looking for a foreign investment partner for the project and is willing to divest up to a 49% stake in MHEP.

The Melana project will only be the second private power plant set up in Himachel Pradesh despite the government signing eight MOUs with private companies between 1991 and 1993.