Hybrid Annuity Model to be considered for Konkan-Godavari basin project: Vikhe Patil

Chhatrapati Sambhajinagar, Sep 19 (PTI) The irrigation department will consider the Hybrid Annuity Model for the Rs 70,000 crore project for bringing excess water from Konkan to Godavari river basin, Maharashtra water resources minister Radhakrishna Vikhe Patil said on Friday.

He was speaking to reporters after chairing a meeting of the Godavari Valley Council here.

"The government is considering the option of Hybrid Annuity Model (HAM) for bringing water from Konkan valley. The department is also considering the same pattern for the Nalganga-Vainganga project in Vidarbha which is estimated to cost Rs 80,000 crore," he said.

A presentation for the same was given to several financial agencies recently, he said, adding that the government need not invest money in the project for the first five to six years.

Under HAM, the government pays a part of the project cost during the construction phase in installments, while the private developer funds the remaining cost. After completion, the government pays the developer a fixed annuity for a specified period.

The minister also informed that the irrigation department has been asked to check potential sites for installing solar panels in and around existing projects.

"This (solar power) will generate income for the department and also help fund maintenance of these projects," Vikhe Patil said.

"We will also check if the capacity of the proposed 1,000 MW solar project at Jayakwadi dam can be increased," he said.

A Rs 25,000 crore proposal covering some 85 projects requiring relatively little financial aid that can be commissioned in the next two years is under consideration, he said.

"We will approach NABARD for financial assistance," the minister added. PTI AW KRK