``North Kerala's low voltage problem will come to an end when the project is commissioned'', Mr Sivadasan told a press conference here on Monday. The project is expected to generate 240 million units per year, when it is completed in the contractual period of 42 months.
The price per unit is an incredible Rs 1.30, according to the minister. Within five years, the cost will be 80 paise per unit, he said.
The project's outlay of Rs 168 crore is inclusive of machinery, pinstock pipe and tunnel-making costs. Since no separate dam was required, only eight hectares of forest could be used up. The projection is that within 15 years, the principal and interest on the loan for the project can be paid up. ``The price, then, will be 20 paise per unit'', Mr Sivadasan said.
Pankaj Sharma, general manager, BHEL and Karuppankutty, KSEB, chief engineer signed the MoU for the turnkey project on Monday. The project report for Kuttiadi additonal extension project was ready as early as 1998. The state government approval came in 1999, but the clearance from Union ministry of environment had come only on 2000.