-
Key Financial Parameters
-
The key financial parameters of all the selected projects are presented in Table 7.12
Table 7.12: Key Financial Parameters of all the Selected Projects
Key Parameter
|
Bilateral Projects
|
RGoB
|
Joint Venture
|
Independent Power Producer
|
Puna I
|
S/kosh
|
Daga
|
Puna II
|
Mangde
|
Kholong
|
Rotpa
|
Cham I
|
Nika
|
Khoma
|
Cham II
|
Amo I
|
Cap MW
|
1,095
|
4,060
|
114
|
992
|
672
|
486
|
400
|
670
|
208
|
326
|
570
|
500
|
Av Gen Cap GWh
|
5,377
|
8,961
|
500
|
4,667
|
2,909
|
2,209
|
1,883
|
3,207
|
1,042
|
1507
|
2,713
|
2210
|
Pit Cost
Nu. Millions
|
49,894
|
168,546
|
8,208
|
49,600
|
33,600
|
24,300
|
20,000
|
33,500
|
10,400
|
16,300
|
28,500
|
25,000
|
Loan
|
29,936
|
67,418
|
6,156
|
34,720
|
23,520
|
17,010
|
14,000
|
23,450
|
7,280
|
11,410
|
19,950
|
17,500
|
Grant/Eqty
|
19,958
|
101,128
|
2,052
|
14,880
|
10,080
|
7,290
|
6,000
|
10,050
|
3,120
|
4,890
|
8,550
|
7,500
|
Int. on loan (%)
|
9.50
|
9.50
|
9.00
|
9.50
|
9.50
|
9.50
|
9.50
|
9.50
|
9.50
|
9.50
|
9.50
|
9.50
|
Repyt prd (Yrs)
|
12
|
10
|
15
|
10
|
10
|
10
|
10
|
10
|
10
|
10
|
10
|
10
|
IRR (%)
|
11.46
|
9.68
|
13.44
|
12.66
|
12.61
|
13.41
|
13.36
|
13.39
|
15.32
|
13.39
|
13.39
|
13.39
|
NPV
|
7,859
|
2,278
|
3,280
|
13,281
|
8,827
|
8,080
|
6,592
|
11,095
|
5,425
|
5,398
|
9,439
|
8,280
|
Commission Year
|
2015
|
2019
|
2012
|
2017
|
2017
|
2018
|
2018
|
2019
|
2017
|
2022
|
2012
|
2028
|
Levelized Tariff (30 yrs) (Nu/unit)
|
8%Dsct rate
|
1.86
|
3.37
|
2.83
|
2.26
|
2.45
|
2.34
|
2.26
|
2.22
|
2.12
|
2.30
|
2.23
|
2.40
|
10 % Disct rate
|
1.90
|
3.41
|
2.89
|
2.33
|
2.54
|
2.42
|
2.33
|
2.29
|
2.19
|
2.38
|
2.31
|
2.48
|
12 % Disct rate
|
1.94
|
3.45
|
2.94
|
2.83
|
3.06
|
2.49
|
2.40
|
2.36
|
2.12
|
2.45
|
2.38
|
2.56
|
Exp Tariff
|
1.90
|
3.41
|
2.89
|
2.33
|
2.54
|
2.42
|
2.33
|
2.29
|
2.19
|
2.38
|
2.31
|
2.48
|
Note:
(1) 10% discount rate of Sunkosh does not include BPC transmission cost of Nu. 0.125 per unit but includes 15% royalty energy.
(2) Electricity export rates are all based on the 10% discount rates.
8. Accelerated Hydropower Development through Independent Power Producers
8.1 Situation Analysis
-
To meet the expected growth in demand for electricity by 2030, developing countries across the globe are anticipated to need investment of US$ 5 trillion, with more than US$ 2 trillion required only for new generation capacity alone38. With governments unable to provide the required level of investment, capacity additions and expansions have to be through private investment. Worldwide, IPP deals closed in 1996 alone was US$ 17 billion.
-
In India, development of hydropower by the private sector was opened up in 1991 and 9 hydropower projects with an installed capacity of 1,700 MW will be in operation by March 2007. Three others, total capacity of 1,522 MW, are under construction39. The details of the hydro power projects under the private sector in India are indicated in Table 8.1 below.
Table 8.1: Hydropower Projects under Private Sector in India
Sl. No.
|
Project
|
Agency
|
State
|
Capacity (MW)
|
Commissioned till 3/02 (MW)
|
4/02 to 3/ 07 (MW)
|
4/07-3/ 12 (MW)
|
1.
|
Khopoli*
|
Tata PCL
|
Maharashtra
|
72
|
72
|
-
|
-
|
2.
|
Bhivpuri*
|
Tata PCL
|
Maharashtra
|
72
|
72
|
-
|
-
|
3.
|
Bhira*
|
Tata PCL
|
Maharashtra
|
150
|
150
|
|
-
|
4.
|
Bhira PSS*
|
Tata PCL
|
Maharashtra
|
150
|
150
|
-
|
-
|
5.
|
Malana
|
Malana PCL
|
Himachal Pradesh
|
86
|
86
|
-
|
-
|
6.
|
Dhamvari Sunda
|
DPCPL
|
Himachal Pradesh
|
70
|
-
|
70
|
-
|
7.
|
Maheswar
|
SMHPC/Skumar
|
Madhya Pradesh
|
400
|
-
|
400
|
-
|
8.
|
Vishnu Prayag
|
Jaypee Group
|
Uttaranchal
|
400
|
-
|
400
|
-
|
9.
|
Baspa-II
|
Jaypee Group
|
Himachal Pradesh
|
300
|
-
|
300
|
-
|
10.
|
Allian Duhangan
|
RS & WM Ltd.
|
Himachal Pradesh
|
192
|
-
|
-
|
192
|
11.
|
Shrinagar
|
Duncans NHPCL
|
Uttaranchal
|
330
|
-
|
-
|
330
|
12.
|
Karcham-Wangto
|
Jaypee Group
|
Himachal Pradesh
|
1,000
|
-
|
-
|
1,000
|
|
TOTAL
|
|
|
3,222
|
530
|
1,170
|
1,522
| *Projects developed in pre-independence period.
-
At home, the target for addition of 10,000 MW by 2028, requiring an investment of Nu. 468 billion may not be possible, while preferable, through bilateral cooperation with India, similar to CHPC, KHPC and THPA. With only four projects of 6,819 MW proposed to be executed through bilateral cooperation with India (Puna-I and Sunkosh) and joint ventures (Puna-II and Mangdechhu), 7 Projects with a total installed capacity of 3,160 MW is proposed to be executed through private investors as IPPs. This requires a huge private investment of about Nu. 158 billion as shown in table below.
Table 8.2: Projects to be developed through Private Investment
Sl. No.
|
Name of Project
|
Firm power (MW)
|
Installed (MW)
|
Energy (GWh)
|
Estimated Cost (Nu. Million)
|
1
|
Kholongchhu
|
81.33
|
486
|
2,209
|
24,300
|
2
|
Nikachhu (Tangsibji)
|
35.00
|
208
|
1,042
|
10,400
|
3
|
Chamkharchhu-I (Digala/Khomshar)
|
111.67
|
670
|
3,207
|
33,500
|
4
|
Chamkharchhu-II (Kheng/Shingkhar)
|
95.00
|
570
|
2,713
|
28,500
|
5
|
Amochhu (814 Yangtsegang)
|
83.33
|
500
|
2,210
|
25,000
|
6
|
Khomachhu (1920)
|
54.33
|
326
|
1,507
|
16,300
|
7
|
Rotpashong (720)
|
66.667
|
400
|
1,883
|
20,000
|
|
Total
|
527.327
|
3,160
|
14,771
|
158,000
|
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