Shillong, May 21: The Northeast will witness a power revolution as a number of foreign banks have agreed to fund major power projects in the region.
Revealing this to newsmen today after a meeting with a parliamentary committee on power, chairman-cum-managing director of the North Eastern Electric Power Corporation (Neepco) S.C. Sharma said power shortage in Assam and most northeastern states could end forever as 35,000 MW of hydro power is expected to be generated from the region.
The banks which will fund the projects include the Canadian International Development Agency, Swedish International Development Agency and the Japanese Bank of International Cooperation.
?Several projects are in the pipeline and they will begin after Prime Minister Atal Bihari Vajpayee launches the 50,000-MW hydro power potential scheme on May 24 at the Vigyan Bhawan in New Delhi?, he said.