In the flood-hit Sikkim, the National Hydroelectric Power Corporation (NHPC) told the stock exchanges that its power projects, situated in Teesta Basin have been affected. NHPC’s Teesta-V power stations (510 MW) and Teesta-VI HE Project (500 MW) are the two affected projects due to floods in Sikkim. NHPC told in stock filing that it has shut down all units of its power stations.
“Power station/project of NHPC Limited (including its wholly-owned subsidiary) situated in Teesta Basin were affected due to flash flood in the region…It is also to inform you that considering the emergency, all units of the Teesta-V power station have been shut down. Detailed assessment of losses/damages suffered will be carried out after the water level recedes. The assets and loss of profit for the power station are fully insured under the Mega Insurance Policy. All assets of the Teesta-VI project are also insured under the Construction All Risk Policy,” NHPC told the stock exchange on Thursday.
NHPC Ltd stock was down 0.90 at 1.69% while writing this story.
Cloudburst and flash floods have killed 14 people in Sikkim. More than 2,000 people have been rescued and the state authorities set up 26 relief camps for more than 22,000 people impacted by the floods. Around 102 people are missing, including 22 Army soldiers.
. One soldier who had been reported missing on Wednesday was later rescued by authorities
Eleven bridges were washed away by the floodwaters, which also hit pipelines and damaged or destroyed more than 270 houses in four districts.
The flooding occurred along the Teesta River in the Lachen Valley in Sikkim state and was worsened when parts of a dam were washed away.
Several towns, including Dikchu and Rangpo in the Teesta basin, were flooded, and schools in four districts were ordered shut until Sunday.
Prime Minister Narendra Modi’s office said in a statement that the government would support state authorities in the aftermath of the flooding.
The flooding was caused by cloudbursts — sudden, very heavy rains — which are defined as when more than 10 centimeters (3.9 inches) of rainfall occurs within 10 square kilometers (3.8 square miles) within an hour. Cloudbursts can cause intense flooding and landslides affecting thousands of people.
The mountainous Himalayan region where Sikkim is located has seen heavy monsoon rains this season.
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