Article: INDIA: Joint venture construction plans for long-stalled 900 Mw pumped storage power plant move ahead, NATIONAL HYDROELECTRIC POWER CORP. (NHPC) & WEST BENGAL STATE ELECTRICITY BOARD (WBSEB) [India] - Order #: 150801.

PROJECT OVERVIEW:

The local WEST BENGAL STATE ELECTRICITY BOARD (WBSEB) had secured the right to build a pumped storage power complex from the state government in early 1994. However, although WBSEB had concluded an agreement with the OVERSEAS ECONOMIC CORP. FUND OF JAPAN at the time to fund part of the project, it could not proceed ahead with the undertaking for various reasons.

As a result, WBSEB signed in memorandum of understanding (MOU) with the NATIONAL HYDROELECTRIC POWER CORP. (NHPC) in late May 2001 in order to implement the project in joint venture. According to the terms of the MOU, NHPC will hold a 67% stake in the venture as well as ...

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