The power projects operated by NHPC in Sikkim have been adversely impacted by the recent flood, leading to the complete shutdown of all units at the power stations.
Amid the flood-ravaged landscape of Sikkim, the National Hydroelectric Power Corporation (NHPC) has officially communicated with the stock exchanges, disclosing the detrimental impact of the disaster on its power ventures located within the Teesta basin. The brunt of this natural disaster has fallen on NHPC’s Teesta-V power stations with a combined generation capacity of 510 MW and Teesta-VI Hydroelectric Project with a combined generation capacity of 500 MW. In a formal stock filing, NHPC clearly confirmed the suspension of operations at all units of its power stations as a precautionary step necessary due to adverse flood conditions in the area.
NHPC Limited, along with its wholly owned subsidiary that hosts its power installations within the Teesta Basin, found itself adversely affected as a result of flash floods in the area. In response to this emerging situation, it is important to note that, as a precautionary measure, the entire operational units of Teesta-V Power Station have been systematically decommissioned. Once water levels recede to manageable levels, a comprehensive assessment of the extent of damage and loss will be carefully conducted.
Furthermore, it is pertinent to underline that the potential loss of property and revenue associated with the above power station is comprehensively protected through a comprehensive mega insurance policy. Additionally, it is important to confirm that all assets attributable to the Teesta-VI project are diligently covered by a robust construction all risk policy, ensuring comprehensive protection in the event of unexpected contingencies. NHPC has duly informed the stock exchanges about these key details in a disclosure made on Thursday.
At the time of writing this story, NHPC Limited’s stock was seen down by 0.90 points which was 1.69% reduction in its value.
A catastrophic cloudburst incident and subsequent flash floods have tragically claimed the lives of 14 persons in the state of Sikkim. A massive rescue operation has been launched, with over 2,000 people successfully evacuated from the affected areas. In response to this grave situation, the state authorities have immediately set up 26 relief camps, which are providing essential assistance and shelter to more than 22,000 people who have been deeply affected by the floods.
Sadly, 102 people including 22 brave army personnel went missing in this disaster. Notably, a soldier, who was earlier reported missing on Wednesday, was later found and rescued by the competent authorities.
Eleven important bridges were destroyed as a result of the devastating floods, while it also wreaked havoc on pipelines and damaged or completely demolished more than 270 residences spread across four districts of the state.
The deluge disaster unfolded along the banks of the Teesta River within the picturesque Lachen Valley of Sikkim state, compounded when sections of a dam succumbed to the relentless force of the flood waters.
As a result of these dire conditions, several towns including Dikchu and Rangpo, located within the Teesta basin, were inundated by the rising waters. In response to the crisis, educational institutions in four districts have been ordered to remain closed till Sunday, ensuring the safety of students and faculty members.
In an official communication issued by the office of Prime Minister Narendra Modi, it was announced that the government will extend its support to the state authorities following the floods.
The flooding was caused by a cloudburst, which produced sudden, unusually heavy rainfall. Cloudbursts are defined as instances when more than 10 centimeters (3.9 in) of rainfall causes flooding in an area spanning up to 10 square kilometers (3.8 sq mi) within just one hour. These weather events have the potential to trigger severe flooding and landslides, affecting large numbers of people.
The hilly area of the Himalayan region, where Sikkim is located, receives substantial monsoon rainfall during this particular season.
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