WELCOME

to 50th meeting of

BOARD OF DIRECTORS
(LOKTAK DOWNSTREAM HYDROELECTRIC CORPORATOIN LIMITED)

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 LOKTAK DOWNSTREAM CORPORATION LIMITED.

Joint Venture of NHPC (74%) & Govt. of Manipur (26%)

Memorandum of Understanding (MOU) 14.09.2007

Promoter’s Agreement 26.09.2008

Date of Incorporation of JV 23.10.2009

Authorised Share Capital Rs.230 Crore

Paid up Capital Rs.123.39 Crore

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 BUSINESS OF THE COMPANY
 To Plan, Promote and organise an integrated and efficient
development of power in all its aspects through Hydroelectric
in the State of Manipur.
 Include Planning, Investigation, Consultancy services,
Research, design and preparation of feasibility and DPRs
 Construction, generation, operation & maintenance of
Power Stations/ Projects and transmission lines.
 Distribution, trading and sale of power etc.

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 PROJECTS LOOKED AFTER BY LDHC LTD

LOKTAK DOWNSTREAM HE PROJECT

THOUBAL HE SCHEME
LOKCHAO Small HEP
IRANG Small HEP

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 STATUS OF OTHER PROJECTS
LOKCHAO Small HEP (5 MW)
– 5 MW project in Chandel Dist. on Lokchao River
– Final DPR submitted to MANIREDA on 30.03.2019
– Proj Cost 77.92 Cr.
– FY tariff 5.73, LT 4.63 (before MNRE grant)
IRANG Small HEP(3 MW)
– 3 MW project in Senapati Dist. on Irang River
– Final DPR submitted to MANIREDA on 30.03.2019
– Proj Cost 26.56 Cr.
– FY tariff Rs. 2.49, LT Rs. 2.35 (before MNRE grant)
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 STATUS - cont…..
 THOUBAL HE SCHEME (3x2.5 MW)
• Multipurpose Project on Thoubal river for Irrigation, Water
supply and Hydroelectricity
- Located 35 Kms from Imphal in Phayang Village, Ukhrul dist.
- Initial execution by Manipur Govt.
- Earthen Dam is complete and other Civil works partially
complete
• Implementation Agreement signed with LDHCL on 10th Nov.
2014 for execution of Electrical & Hydromechnical components
of the Project.
• Considering expertise of NHPC, BoD LDHCL on 27.07.2017 to
get the work done through NHPC Ltd.

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 STATUS OF OTHER PROJECTS

• Accordingly, Consultancy services for Review and Updation of

DPR of Thoubal HE Scheme was assigned to NHPC on 16.08.2017.
• Final DPR submitted on 18.2.19 to the CE, Water Resource
Department, GoM for updating in final DPR of the project and
with a request to expedite the arrangement of subsidy from
MNRE, Govt. of India (26.8.2019).
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8
STATUS OF LOKTAK
DOWNSTREAM HE
PROJECT

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STATUS OF CLEARANCES OF LDHE PROJECT
Environment Clearance: Letter No. J-21011/17/2007-IA-I dated 16.01.2013
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Defence Clearance: Defence Clearance for another five years i.e. up to

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26.08.2023

MoEF, GoI has accorded Forest Clearance (Stage-II)

Forest Clearance:
3 for diversion of 221.50Ha Forest Land on 22.12.2014.

NCSDP has approved the Study Report on Seismic

NCSDP Approval: Design Parameters of the Project for design purpose
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on 12.10.2015 .

Techno-Economic Project has been accorded TEC by CEA on

5 Concurrence: 05.05.2017.

NOC from the Ministry of Granted NOC on 07.06.2017.

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Tribal Affairs, Govt. of India:

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 STATUS OF PROJECT
 Chief Secretary (Power), Govt. of Manipur vide letter No.3/9/2011-Power dated
30th May, 2017 requested NHPC to explore all possible options to bring down the
tariff of Loktak D/d HE Project considering support extended by Govt of Manipur
to make the project viable.
 NHPC worked out on tariff and again wrote on 16.02.2018 to Chief Secretary,
Govt. of Manipur with a copy to Sh. S. S. Rawat, Under Secretary to GOI, MOP to
expedite the finalization & signing of PPA.
 Draft PIB submitted to MoP dt 06.09.2018
 Meanwhile, a meeting was convened by Secretary (Power) Govt. Of India on dated
17.07.2019, wherein the issue was further discussed and NHPC was requested to
explore available option to lower the tariff.
 The revised tariff was again worked out and the same was conveyed to Chief
Secretary, Government of Manipur, vide letter NH/LDHC/C/FBD/2019/11/20
dated 30.07.2019
 Meeting held with Power Minister(GoM) on 6th Nov. wherein tariff model
proposed by LDHCL was agreed in principal and assurance was given for early
Cabinet clearance by Manipur Govt.
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 OPTIMISATION OF TARIFF
In order to optimize the tariff various options have been explored
considering following recent policy initiative from Government and
possible relaxation in CERC norms :-
Equity has been considered as upfront to reduce IDC
Interest rate of 9.5% on Domestic Loan
Return of Equity 14%(as per MoU) against 15.5%(permitted as per
CERC).
O&M charges 3% against 5% allowed as per CERC.
Life of the Project as 40 years as per CERC norms(2019-24).
90% depreciation considered in following manner.
3.5% for first 20 years and balance equally distributed in the
remaining 20 years.

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 ABSTRACT OF PROJECT COST (Sept 19 PL)
OPTION-II(BASE + OPTION-III(BASE +
S.N
Description OPTION-II(BASE) WAIVER OF 50% WAIVER OF 100% SGST)
o.
SGST)

1 HARD COST 1267.18 1237.41 1207.64

2 IDC & FC 60.91 58.03 55.14

3 TOTAL COST 1328.09 1295.44 1262.78

4 ROE 14% 14% 14%
DEBT: EQUITY
5 70:30 70:30 70:30
RATIO
6 ROI 9.5% 9.5% 9.5%
@3%
7 O&M @3% @3%

1st YEAR: Rs 4.32

1st YEAR: Rs 4.14 1st YEAR: Rs 3.96
8 TARIFF LT: Rs 4.38
LT: Rs 4.20 LT: Rs 4.03

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 Support from State Govt.
Support/Exemptions from State Government
 Grant of Rs 400 crore
 Foregoing 12% free power entiteled to the home
state
 Contribution Rs 214.77 Cr. towards cost of land, R-
Communication, Security and etc.
 a further 50% exemption in SGST (as recently agreed
by some states)
NOC for revalidation of TEC

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 Finance - Status
Particulars Amount
Authorised Share Capital 230 Crore
NHPC’s Share Capital Money Pending Allotment Nil
Manipur Govt.’S Share Capital Money Pending
Nil
Allotment
Date Of Issue Of Share Certificates During the Nil
Quarter
Opening Equity Capital (Paid-up) for the Quarter Rs.123.39 Crore
No. of Shares for the Quarter 12,33,92,309 Nos.
Additions during the Quarter Nil
Adjustments/Deletions during the Quarter Nil
Closing Equity Capital (Paid-up) Rs.123.39 Crore
Other Equity (Surplus) Rs.19.86 Crore
TOTAL Equity Rs 143.25 Crores

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 Finance - Status
Promoters Equity Subscription Share %
Amount
NHPC 90.29 Cr. 73.17%
GOVT. OF MANIPUR 33.10 Cr. 26.83%

FUND AVAILABILITY (in Crores)

TDR + CASH Rs 3.21
RECEIVABLE Rs 0.41
OTHER RECEIVABLE(STAFF ADVANCE) Rs 0.18
TOTAL Rs 3.80

LIABILITY
PAYABLE TO NHPC CONSULTANCY Rs 2.20
INTER UNIT TRANSECTION Rs 0.70
RENT Rs 0.53
TOTAL Rs 3.43
OTHER LIAILITY Rs 0.37
G TOTAL Rs 3.80 16
 BREAK UP EXPENDITURE (in Crores)
EMPLOYEES EXP Rs 78
OTHER ADMN Rs 31
SURVEY & INVESTIGATION Rs 15
COMPENSATORY AFFORESTATION(FOREST CLEARANCE Stage-II) Rs 16
OTHER CAPITAL EXP Rs 4.50
Grand Total Rs 144.50

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 STAFF POSITION

PARTICULAR NHPC LTD GOVT OF MANIPUR

Employees posted till 30th September
2019. 11 NIL
Add: Employees posted during NIL
October 2019 to December 2019 0
Less: Employees withdrawn during NIL
October 2019 to December 2019 0
Less: Employees retired from the
Company during October 2019 to NIL
December 2019 0
NIL
Employees as on 31st December 2019 11

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THANK YOU

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THANK YOU

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 ABSTRACT OF PROJECT COST
Amount
Amount
(Rs. in crore)
S.No. Description (Rs. in crore)
Sept 2019 PL
Feb 2015PL

A Civil Works 1005.73 1007.61

B Electrical Works 129.54 148.07

Total (Civil + Electrical) works 1137.32 1155.68

C Security Expenses 111.50 111.50

Total (Civil + Electrical + Security) 1248.82 1267.18

D Interest During Construction (IDC) 102.66 60.91

E Financing Charges (FC) 1.29 0.00

Total Project Cost 1352.77 1328.09*

1st YEAR: Rs 5.31 1st YEAR: Rs 4.32
TARIFF LT: Rs 6.10 LT: Rs 4.38
(ROE: 14%, ROI:9.75%) (ROE:14%, ROI:9.5%)

* Total project cost at Sept 2019 PL considering life of project 40 years, 90% depreciation, O&M charges @ 3 %21
,escalation on O&M 3.0%, equity upfront, debt: equity::70:30, 400 cr grant from GoM