Pact boost to power sector in Meghalaya
Meghalaya on Wednesday signed a memorandum of agreement with Renew Joule Private Limited to set up three power plants that will convert kinetic energy into electric energy.
- Published 21.12.17
Shillong: Meghalaya on Wednesday signed a memorandum of agreement with Renew Joule Private Limited to set up three power plants that will convert kinetic energy into electric energy.
Altogether 100MW will be generated by using a new technology, closed loop vertical turbine, which works on the principle of buoyancy and gravity.
The company will initially develop 24MW at Byrnihat in Ri Bhoi district and subsequently at Mendipathar and Ampati in Garo hills. For one megawatt generated, the cost will be around Rs 8 crore.
The agreement was signed between an official of the power department and representative of the firm in the main secretariat in the presence of chief minister Mukul Sangma.
Representatives of the firm said the proposed power plant would be the first of its kind in Asia, though this technology has been used in a few countries like the UK. The firm hoped the first unit of the plant would start operating by April 2018.
Mukul said, "It is a great moment for the state for attracting friends from various parts of the world to look at Meghalaya as a potential destination for investment in crucial sectors, keeping in mind our agenda of placing and positioning the state as a favoured destination for investment."
With this initiative in partnership with investors, the chief minister said he was looking forward to setting of a new benchmark in the power sector and for Meghalaya to become a pioneer in contributing to the nation's endeavour along with rest of the world in dealing with challenges like climate change and global warming besides taking care of the requirement for energy. He said the energy passed on to consumers would ultimately be not just green or renewable but the cheapest power to be generated.
Mukul congratulated the power department and the company and termed Meghalaya a place which is at ease with doing business and will create history by attracting the global community.