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Large hydro projects get ‘green’ tag in policy shift

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New Delhi, March 7 (IANS) In a major policy shift, the government has decided to give the “renewable energy” tag to large hydro power projects.

The tag allows these to qualify as part of the framework for non-solar Renewable Purchase Obligation (RPO) of the states.

The decision taken by the Union Cabinet is part of a series of measures aimed at rationalising tariffs and promoting hydro power in the country.

Development of hydro power projects is important to provide India a stable grid, given the country’s committment towards 160 GW capacity addition from infirm sources of power like solar and wind by 2022.

Under the existing policy, only hydro power projects less than 25 MW are categorised as “renewable energy” and enjoy the benefits associated with such projects.

With the latest decision, large projects of public and private sector companies such as NHPC, Jindal Steel and Power (JSPL) and JSW would also qualify as “green” and help states meet their RPO obligations.

This, however, will apply only to large hydro power projects commissioned after the notification of these measures.

The trajectory of annual large hydro power project targets will be notified by the Ministry of Power based on the sector’s projected capacity addition plans.

The new measures give developers the flexibility to determine tariff by backloading it after increasing the project life to 40 years, increasing the debt repayment period to 18 years and introducing an escalating tariff of 2 per cent.

This will help bring down the initial tariff of hydro power projects, which is normally on the higher side on account of including flood moderation and enabling infrastructure costs in the project cost.

The government will also provide budgetary support to fund the cost of the enabling infrastructure.

Power distribution companies (discoms) are reluctant to sign hydro power purchase agreements (PPAs) owing to higher tariffs, particularly in the initial years.

India is endowed with a large hydro power potential of 1,45,320 MW, of which only about 45,400 MW has been utilised so far.

The country has added only about 10,000 MW of hydro power in the last 10 years.

The importance of hydro power increases significantly with the country targeting to add 40 per cent of the total capacity from non-fossil fuel sources by 2030 to honour its Nationally Determined Contribution for Climate Change.

The sector is, hoeever, going through a challenging phase as the share of hydro power in the total capacity has declined from 50.36 per cent in the 1960s to around 13 per cent in 2018-19.

–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma

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World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.

Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.

During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.

On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”

Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.

It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.

Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.

Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”

On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”

The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.

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