SJVN Accomplished Financial Closure of  66 MW Dhaulasidh  Hydro Electric Project

SHIMLA: Sh. Nand Lal Sharma, Chairman & Managing Director, SJVN today informed that the Financial Closure for 66 MW Dhaulasidh Hydro Electric Project situated in Hamirpur & Kangra Districts of Himachal Pradesh has been successfully achieved. The Financial Closure of 66 MW Dhaulasidh Hydro Electric Project been stamped with Himachal Pradesh State Co-operative Bank. Sh. Sharma further informed that the project cost of Dhaulasidh HEP is Rs. 688 crores and is being financed through Debt Equity Ratio of 80:20. As per the Loan Agreement, Himachal Pradesh State Co-operative Bank. will provide the debt part at an effective interest rate of 6.71% per annum. “Financial Closure is a stage of project development when all the conditions of a financing agreement are fulfilled prior to initial availability of funds by the financers,” said Sh. Nand Lal Sharma. Sh. Nand Lal Sharma apprised that the Foundation Stones of 66 MW Dhaulasidh Hydro Electric Project located in Hamirpur & Kangra districts of Himachal Pradesh was laid by Hon’ble Prime Minister of India Sh. Narendra Modi on 27^th December, 2021.The construction activities of the Project are in full swing and moving fast forward to generate 304 Million Units in a 90% dependable year. The levelized tariff for the generated electricity will be Rs. 4.46 per unit. SJVN has embarked on a fast-paced journey of harnessing Renewable Energy to meet the commitment of Government of India of achieving 500 GW of installed capacity from non-fossil fuel sources by 2030. Having secured many new projects in the last two years, and still more projects in the pipeline, SJVN Management has revised and upgraded its Shared Vision Targets to 5000 MW by 2023, 25000 MW by 2030 & 50000 MW by 2040.