India’s Central Electricity Authority (CEA), has given techno-economic clearance for the 330MW Shrinagar hydro power project which will be constructed by Duncans North Hydro Power Company, a joint venture between US-based Synergics and Duncan Industries.
CEA has approved the completed cost of the project at US$371M. Synergics will contribute an equity of US$117M and a foreign loan of US$186M. The project includes 4×82.5MW units and a concrete gravity dam which will be 90m high and 248m long across the river Alaknanda, a tributary of the Ganges river near the town of Shrinagar in the Garhwal region of the Himalayas. The first unit will be commissioned in June 2005.
