This comes after the union cabinet gave its nod to recognise hydropower as renewable source of energy. “We might find some kind of cheaper funding by multilateral lending institutions as the government has recognised hydropower as renewable source of energy,” Balraj Joshi, chairman and managing director at NHPC, told BloombergQuint in an interview. “With this, we will be able to achieve COP21 targets.
The state-owned hydropower developer, according to Joshi, is planning to raise its power generation capacity from about 7.1 gigawatt to 10 GW by 2022. “We are trying to tap Canadian Pensions Funds. We are in initial discussions with AFD (Agence Française de Développement) and KfW for Teesta-IV project to lend Rs 2,800 crore for 18 years. Read More
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