Power Department of Sikkim OR Sikkim Power Department
Teesta Stage-III
Description

Teesta III Hydro Electric Project has been awarded by Government of Sikkim (GoS) under Joint Sector on Build, Own, Operate and Transfer (BOOT) basis and has been implemented by M/s Teesta Urja Limited (TUL), a Special Purpose Vehicle. Implementation Agreement for the development of the project was executed between GoS and TUL on 18th July 2005 for a period of 35 years from COD.

Award of Works

The Design and Engineering Consultant is M/s Energy Infratech Pvt. Ltd. The turnkey execution of Main Civil works of the project is awarded to a consortium led by M/s Navayuga Engineering Company Ltd. The E&M works are awarded to a Consortium led by M/s Andritz Hydro. The works on the project have started on 1st January 2008.

Beneficiaries

The beneficiaries of the power produced from the project will be the Northern Region (NR) states of Punjab, Haryana, Uttar Pradesh and Rajasthan. Teesta Urja Ltd has executed Power Purchase Agreements with PTC India Ltd for the sale of entire net saleable power (Power generated - Free Power to the state of Sikkim), out of which 70% on long term basis and remaining 30% on short term Merchant basis. PTC in turn executed Power Sale Agreements with the four beneficiary state utilities for the sale of 70% long term power.

Main Works

All the excavation works in the project have been completed. Presently, concreting in Chute Spillway; Steel linin in vertical, horizontal and inclined pressure shafts, Concreting in Hopper and trench of Desilting Chamber - I & II, Lining of the Head Race Tunnel and Surge Shaft and erection of E & M Equipment are the major balance works which are under execution.

Financial Closure

STATUS OF DEBT FUNDING

The company has successfully tied up 100% (Rs. 2160.75 Cr.) debt required towards cost overrun and has executed loan documentation with IREDA on 28th June 2013.

S. No.ParticularsCash Spent Upto 31st March 2014
1Debt6565.11
2Equity1894.61
3Total Funds8459.72
Evacuation Transmission Works Status

The Power from the Project shall be transmitted till Kishanganj through a 210 Km long 400 KV D/C Teesta III - Kishanganj Transmission line to be built by Teesta Valley Power Transmission Ltd (TVPTL), a Joint venture company formed between Teesta Urja Ltd and Power Grid Corporation of India Ltd.

The line has a total of 580 Towers and till date erection of 287 Nos. of towers and Stringing works of 69 Km for a total of 210 Km is completed.

Status of EPC Contract

Utilization of funds as on 31.03.2014 (In Rs. Cr)

ParticularsRevised Project CostUtilization of Funds as on 31st March 2014
EPC
Design and Engineering194.27198.5
Infrastructure Works252.00249.63
Main Civil Works2933.512875.65
H&M Works372.44343.55
E&M Works1100.121033.47
Contingencies and Escalation431.57350.17
Total EPC Cost5283.905050.98
Total Non-EPC Cost557.10499.43
Total Hard Cost5840.905550.41
Soft Cost2740.002669.27
Total Project Cost8580.908219.68
Cash and Bank Balances240.04
Total8459.72