STATUS OF REVENUE AND PROGRESS OF DUL HASTI HYDROELECTRIC PROJECT

**Executive Summary** This document provides an update on the Dulhasti Stage-II Hydro Electric Project (HEP). Key milestones include the Central Electricity Authority's (CEA) concurrence of the Detailed Project Report (DPR) on 26.05.2025 and the Board of Directors' investment approval on 20.02.2026. The project's construction timeline is 44 months, with execution by NHPC Limited on a Build-Own-Operate-Transfer (BOOT) basis. **Key Points / Main Content** **Dulhasti Stage-II Hydro Electric Project (HEP)** * **Project Details:** Dulhasti Stage-II HEP is a 260 MW project. * **Approvals:** * Detailed Project Report (DPR) concurred by Central Electricity Authority (CEA) on 26.05.2025. * Environmental Clearance accorded on 07.01.2026. * Forest Clearance is not required as no forest land is involved. * Investment approval accorded by the Board of Directors of NHPC Limited on 20.02.2026. * **Construction Timeline:** The construction timeline is 44 months. * **Execution Basis:** The project will be executed by NHPC Limited on a BOOT (Build-Own-Operate-Transfer) basis, based on an MoU with JKSPDCL signed on 03.01.2021. This arrangement considers operational aspects, cost efficiency, construction and operational ease, economies of scale, and synergy with Dulhasti Phase-I. **Dulhasti Power Station (Phase-I)** * **Capacity:** 390 MW. * **Development:** Developed by NHPC Limited with financing through equity and loans/market borrowings. * **Revenue Generation:** Revenue has been realised since April 2007 from power sales at tariffs determined by the Central Electricity Regulatory Commission (CERC). Revenue is used for O&M expenses, debt servicing, and other obligations, with NHPC Limited's earnings limited to Return on Equity (RoE). **Land Acquisition and Rehabilitation** * **Dulhasti Stage-II HEP:** Acquisition of private land is being conducted in accordance with the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013 (RFCTLARR Act, 2013). * **Project Affected Families (PAFs):** All admissible benefits to PAFs will be provided as per the R&R Scheme. * **Dulhasti Power Station:** Jobs have been provided to PAFs, and there are currently no pending cases related to job provision. **Impact Analysis** **NHPC Limited** * **Impact:** NHPC Limited is the developer and operator of both Dulhasti Phase-I and will execute Dulhasti Stage-II HEP on a BOOT basis. They are responsible for financing, construction, operation, and revenue generation (limited to RoE for Phase-I). * **Action Required:** Continue with project execution as per approved timelines and agreements for Dulhasti Stage-II HEP. Manage O&M, debt servicing, and other obligations for Dulhasti Phase-I. **Central Electricity Regulatory Commission (CERC)** * **Impact:** CERC determines the tariff for power sold from Dulhasti Power Station, impacting the revenue generation of the project. * **Action Required:** Continue to determine tariffs in accordance with applicable regulations. **Central Electricity Authority (CEA)** * **Impact:** CEA has concurred the Detailed Project Report (DPR) for Dulhasti Stage-II HEP, a key step in project approval. * **Action Required:** No specific action mentioned beyond their role in DPR concurrence. **Project Affected Families (PAFs)** * **Impact:** PAFs are entitled to benefits and jobs as per the RFCTLARR Act, 2013 and the R&R Scheme. * **Action Required:** Receive admissible benefits and jobs as per applicable provisions. **The Minister of State in the Ministry of Power** * **Impact:** Provided the information to the Rajya Sabha. * **Action Required:** No specific action mentioned beyond reporting.

Key Entities Referenced