Union Cabinet Approves Rs 4,136 Crore for Northeast Hydropower Projects

The Union Cabinet has sanctioned Rs 4,136 crore to support equity participation in hydropower projects across northeast states. The initiative aims to develop 15,000 MW of hydroelectric capacity over eight years. This scheme will be implemented from 2024-25 to 2031-32 and will enhance local investment and employment.

The Union Cabinet has sanctioned Rs 4,136 crore to support equity participation in hydropower projects across northeast states. The initiative, chaired by Prime Minister Narendra Modi, seeks to develop 15,000 MW of hydroelectric capacity over the next eight years.

According to Information and Broadcasting Minister Ashwini Vaishnaw, the scheme, spearheaded by the Ministry of Power, will allocate central financial assistance to state governments for equity participation in joint ventures with Central Public Sector Undertakings. The funding is capped at Rs 750 crore per project, with scope for revision if necessary.

This scheme aims to mitigate project delays, attract investment, and provide significant employment opportunities. It also aligns with India's goal to achieve 500 GW of renewable energy capacity by 2030, enhancing the grid's flexibility and reliability.