Meghalaya CM hinted augmentation power on PPP mode

Syllad | The Rising MeghalayaMarch 24, 2023

Meghalaya Chief Minister Conrad K Sangma informed in the current financial year, an equity infusion of Rs. 550 crore and a grant of Rs. 100 crore have been provided to MeECL or Meghalaya Energy Corporation Limited.

Sangma while presenting the budget speech on Thursday said that the power sector is critical to boosting economic growth and improved quality of living.

He also asserted the government initiated major reforms to resolve the accumulated challenges and issues in the sector.

Sangma informed the first unit of the long-pending Ganol hydropower project has been operationalized recently.

He also said the distressed financial condition of the State power corporation, MeECL, and its three subsidiaries is due to the unaddressed challenges of the past decades.

The Chief Minister said “I am confident that MeECL can show a turnaround in the next 3-5 years, supported by the clear vision and policy from the government and the commitment of the employees.”

For 2023-24, the Chief Minister budgeting an amount of Rs. 400 crore. He also informed the State has a total installed capacity of 356 MW generating about 1,200 million units annually.

Sangma said that they will augment their generation capacity and improve the power mix in favor of renewable energy.

“This is in line with our long-term objective of sustainable growth and carbon neutrality,” Sangma hinted the capacity augmentation will be done in a public private partnership mode.