Union Cabinet approved ₹4,136 crore to northeast states for hydropower expansion

Union Cabinet approved ₹4,136 crore to northeast states for hydropower expansion.
The Union Cabinet approved equity support of ₹4,136 crore to North Eastern states for developing hydropower projects, totalling 15,000 MW capacity for the next eight years.
Union Cabinet also approved a proposal for central financial assistance to the northeastern states for up to 24% equity stake in hydropower projects to be developed through a joint venture with the Centre.
This scheme has an outlay of ₹4,136 crore to be implemented from 2024-25 to 2031-32.
This scheme will be funded through 10% gross budgetary support (GBS) for the northeastern region from the total outlay of the Ministry of Power.
The equity portion of the state government of NER would be capped at 24 per cent of the total project equity with a maximum of ₹750 crore per project.
The equity ratio of the CPSU and state government in the JV will be maintained at the time of disbursing of the grant.
The development of hydroelectric projects would help in achieving India’s Nationally Determined Contribution (INDC) of establishing 500 GW of renewable energy capacity by 2030.