Etalin Mega Hydro Project Slips from SJVN to NHPC
New Delhi/Shimla, November 13 2025: In a major setback for Himachal Pradesh’s revenue interests, the Etalin Hydroelectric Project (3097 MW) in Arunachal Pradesh — one of India’s biggest upcoming hydropower ventures — has been reassigned from SJVN Limited to NHPC Limited by the Ministry of Power.
The Letter is in the possession of www.himbumail.com, directing SJVN to pass the project to NHPC.
The move means Himachal Pradesh, which holds an equity stake in SJVN, stands to lose potential revenue and dividends it could have earned from this mega project.
Under the existing arrangement, Himachal gets dividends and revenue shares from every project executed by SJVN. With Etalin now handed to NHPC, those gains are effectively wiped out.
The official communication (F.No.15/17/2024-HYDEL-II), issued by the Ministry of Power and approved by the Union Minister of Power and Housing and Urban Affairs, directs NHPC to “take all necessary measures to acquire the Etalin HEP from SJVN and proceed with subsequent activities for project development.”
SJVN had earlier signed a Memorandum of Agreement (MoA) with the Government of Arunachal Pradesh on August 12, 2023, after the Ministry had originally indicated the project to SJVN for evaluation and development.
Etalin is one of the largest hydropower projects in India, and its execution will bring significant brand equity to the corporation undertaking it. Since hydropower is billed as green energy, the project will also add substantially to the green energy portfolio of the company once it is completed.
Officials familiar with the decision say that SJVN’s existing financial and project liabilities influenced the Centre’s move to reassign the project to NHPC — the country’s leading hydropower PSU.
While NHPC now takes charge of the project, SJVN has been asked to facilitate a smooth transfer.
But given its prior investment in groundwork and its MoA with the Arunachal government, observers believe SJVN may not part with the project quietly.
For Himachal, however, the message is clear — a major revenue opportunity has just slipped through its fingers.
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