The National Hydroelectric Power Corp (NHPC) has signed loans with the Power Finance Corp (PFC) to help fund construction of three hydro power projects in India.

The loans together are for US$752M, and are arranged through three separate Memorandums of Agreements (MoAs) with PFC – one for each project to be completed during the 11th Five Year Plan.

NHPC signed the MoAs for the completion of the 800MW Parbati II scheme in Himachal Pradesh and construction of the 132MW Teesta Low Dam III project, West Bengal, and the 120MW Sewa II project in Jammu & Kashmir (J&K).

The loans are available to be drawn up to six months after commissioning of the projects and are to be repaid over the following ten years.

Parbati II is scheduled for completion in September 2009, and it involves construction of a 85m high concrete gravity dam, a 31.5km long headrace tunnel and a surface power house with four 200MW units. More than three-quarters of the civils works have been completed.

The Teesta Low Dam III project is expected to be completed in September 2008, and the scheme involves construction of a 32.5m high barrage and a surface power house with four 33MW Kaplan turbines. Civils works are almost completed and installation of electrical and mechanical equipment is underway.

Sewa II is expected to be completed in December 2008. The project involves constructio of a 53m high concrete gravity dam, a 289m long diversion tunnel, a 10km long headrace tunnel and a power house installed with three 40MW vertical Pelton turbines. The dam is three-quarters built and both the headrace tunnel and power house are in the closing stages of civils works. Installation of the electrical and mechanical works are underway.