Sikkim Hydro Power Station Shutdown by NHPC Due To Flash Floods

6 Oct 2023 , 12:28 PM

Following the company’s decision to shut down the operating Teesta-V hydropower facility in Sikkim because of the flash flood on October 4, shares of NHPC Ltd. decreased on Thursday. 

According to an exchange filing, the company has stopped work on another ongoing project.

As per the statement, the corporation is doing a thorough assessment of the loss. The two power assets, the 500 MW Teesta-VI Hydro Electric Project and the 510 MW Teesta-V Power Station, are both fully insured, according to Lanco Teesta Hydro Power Ltd., an entirely owned subsidiary of NHPC. 

‘All units at Teesta-V Power Station have been shut down due to the emergency circumstances. After the water level recedes, a thorough evaluation of the losses and damages incurred will be done, it stated.

Under the giant insurance coverage, the power station’s assets and loss of profit are completely covered. According to the statement, the Construction All Risk Policy also covers all of the project’s assets and construction-related tasks.

The company promised that more pertinent details would be made known when the time comes. 

Water levels increased downstream in the Teesta river basin as a result of flash floods brought on by a cloudburst on Tuesday night in the Lhonak Lake region. The areas where the river flows, including Sikkim, West Bengal, and Bangladesh, have been impacted by this rise in water levels. 

On a year-to-date basis, it has increased 31.45%. The day’s total volume of trading is currently two times greater than the 30-day average. At 50.21, the relative strength index was. 

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