Meghalaya government is likely to scrap signed agreements with many private investors as many of them failed to execute their commitments, specifically in the power sector.

Deputy Chief Minister Prestone Tynsong said that many private investors have signed agreements with the government in the last few years but that has remained only in papers.

Notably, the Meghalaya government has signed an agreement with the state-owned North Eastern Electric Power Corporation Limited (NEEPCO) for the commissioning of three hydroelectric projects with a total generation capacity of 235 MW.

Deputy Chief Minister Prestone Tynsong, also in charge of the Power department, after the agreement signing ceremony, said the NEEPCO under the agreement would set up the Umiam stage 1, stage 2 and stage 3 hydropower plants.

The Umiam stage 3 is in the final stage and NEEPCO is expected to start the implementation process soon.
Both Stage-I and Stage-II would cost around Rs 1,750 crore with a 70 per cent loan.

The state of Meghalaya has been facing a power deficit of 50 per cent of the total demand for electricity during peak hours.

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