NHPC faces delays in NCLT clearance for 120 MW Rangit IV HEP

NHPC Limited is facing delays in obtaining the final clearance from the National Company Law Tribunal (NCLT) to take over the 120 MW Rangit stage IV hydroelectric project (HEP) in Sikkim. Besides clearance from NCLT, NHPC also needs approval from the Public Investment Board and the Cabinet Committee of Economic Affairs to commence work on the project. In 2019, NHPC emerged as the highest bidder under a resolution plan for the insolvency-bound hydropower company, Jal Power Corporation’s Rangit stage IV HEP, with its bid of Rs 1.65 billion.