Amid meticulously pruned maple trees on one side and rows of red and yellow roses on the other, the constant clanking of turbines shatters the silence of the hills. The turbines on the basin of the Sutlej flowing from China are part of India’s largest private sector hydropower producer JSW Energy’s Baspa and Wangtoo plants in Himachal Pradesh’s Kinnaur district.
Private sector companies are generally wary of investing in hydropower because it is considered a highly capital-intensive resource. Many projects suffer cost overruns, delays due to geological and clearance problems, and land acquisition issues. But JSW Energy believes there is significant growth opportunity in the sector in light of India’s push for renewable energy.
The company entered the hydel sector in 2015 by acquiring the Baspa (300 MW) and Karcham Wangtoo (1,080 MW) projects from debt-ridden Jaiprakash Power Ventures, a Jaypee Group subsidiary, for `9,700 crore. Read More