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Pumped storage partners

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.