“The approval for the formation of the Joint Venture Company marks a significant step forward in the commissioning of 13 large hydropower projects, which the state government rejuvenated by signing MoAs with Central PSUs in 2023,” the statement further stated.Acknowledging the significance of hydropower in the state’s economic growth, the cabinet approved modifications in the State Hydro Power Policy, 2008, and Local Area Development Fund Guidelines, 2022, allowing power producers, including PSUs, on behalf of the state government to contribute 1% free power to Local Area Development Funds set up for welfare of project-affected areas.These modifications will enable higher and timely contributions to the Local Area Development Fund, enhancing the welfare of project-affected families at no additional cost to the state exchequer.The cabinet also approved the restoration of the 144 MW Gongri hydropower project to M/s Dirang Energy Private Limited under the Arunachal Pradesh Restoration of Terminated Large Hydropower Policy. With this approval, Gongri will become the first such project to be restored.
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