Ratle Hydroelectric Power Corporation Limited (RHPCL) and Megha Engineering and Infrastructure Limited (MEIL) have signed a turnkey agreement for the 850 MW Ratle hydroelectric project.
Deepak Saigal, CEO of RHPCL, and Umamaheswara Reddy, Vice President of MEIL, signed the contract agreement at the Convention Centre in the presence of Lieutenant Governor Manoj Sinha.
According to Sinha, the signing was a historic step toward achieving the goal of making Jammu and Kashmir energy self-sufficient.
He claimed that a large-scale capacity augmentation programme in the power sector had resulted in a significant increase in power transmission and distribution capacity. New power generation projects such as Ratle, Pakal Dul, Kiru, and others will help the Union Territories (UT) meet their electricity needs.
The 850 MW Ratle hydel power project will create a large number of direct and indirect jobs for the local population. Sinha directed the concerned agencies to establish a comprehensive mechanism for the development of local people’s skills, which will allow them to participate in the project’s execution.
Despite having the capacity to generate 20,000 MW of hydropower, Sinha claims that only 3,500 MW of electricity has been harnessed in the last 70 years. In the next four years, the generation capacity will be doubled.