The Union Power Ministry is in process of preparing a framework for hydropower development in India and the same would soon be taken to the highest level in the government, a top ministry official said at an ASSOCHAM event held in New Delhi today.
“We are preparing a framework for hydro development in this country, very soon we will take it up to the highest level in the government, so the focus is going to be back on hydro,” said B.P. Pandey, additional secretary (Hydro), Ministry of Power while inaugurating a conference on ‘Hydropower @Crossroads,’ organised by The Associated Chambers of Commerce and Industry of India (ASSOCHAM). He said that in totality hydropower comes out a much cleaner, greener and sustainable option while adding that water security is an issue in India and there is a need for storages as well. Highlighting that reducing the costs is one of the major challenges in hydro sector, he suggested for financial restructuring together with use of innovative financing instruments.