CVPPPL misleading people:‘Can’t execute 2 key power projects with 49% equity: Power Players

5 Dariya News (Rouf Pampori)

Srinagar 31-Aug-2015

Four months after Chenab Valley Power Projects Private Limited (CVPPPL) claimed that the Indian Power Ministry has given its go-ahead to them for setting up two power projects—Dulhasti-II and stage second of Uri-I—with cumulative capacity of 940 MW, in Jammu and Kashmir, the power players in Valley have accused it of misleading the people and have said that CVPPPL cannot go against the wishes of NHPC as they are holding equity of 49 per cent in CVPPPL.“We were able to persuade the Power Ministry to hand over Dulhasti-II and 2nd stage of Uri-I to the CVPPPL, much against the wishes of NHPC. It took us more than three years to get the consent from the Ministry,” Chairman, Director of Boards, CVPPPL, MY Khan had said in April this year. A delegation headed by one Habibullah Malik told CNS that Chairman, Director of Boards, CVPPPL, MY Khan has mislead and befooled the people of Kashmir.  “Our state owned corporation would have been in dictating position if CVPPPL had structured it like Jammu Kashmir State Power Development Corporation (JKSPDC) 51%, Power Trading Company (PTC) 2% and National Hydro Power Corporation (NHPC) 47%. The present structure completely favours NHPC as NHPC is holding 49%, JKSPDC 49% and rest 2% PTC. The PTC with 2% being the subsidiary of NHPC will definitely favour NHPC in board meeting,” the delegation said.They said that National Hydroelectric Power Corporation (NHPC), a subsidiary of Government of India is still eyeing to execute these projects and it will succeed in its designs as the Power Trading Company will support its move in coming days. “The claim of CVPPPL to hire consultants and to start work on the two power projects in 2016 is charade. We fail to understand how CVPPPL will execute two key power projects by holding only 49% equity,” they said and alleged that CVPPPL is NHPC with a name change. (CNS)