Sikkim flash floods: NHPC shuts down power stations in north-eastern state; shares down 0.45% 

Sikkim flash floods latest: The National Hydroelectric Power Corporation (NHPC) on Wednesday has shut down its power stations in the northeastern state of Sikkim ravaged by flash floods. NHPC informed exchanges in a recent filing that its 510 megawatt Teesta-V Power Station and 500 megawatt Teesta-VI HE Project have been impacted by floods.

The 500 megawatt Teesta-VI HE Project is being executed by Lanco Teesta Hydropower Limited. The public sector hydropower company said that it has shut down all units of its power stations in Sikkim. It added that a detailed assessment of losses/damages due to the floods will be carried out after the water level recedes.

“It is also to inform that considering the emergent situation, all units of Teesta-V Power Station have been shut-down. Detailed assessment of losses/ damages suffered will be carried out after water level recedes. The assets and loss of profit of Power Station is fully insured under Mega Insurance policy. All assets/ works of Teesta-VI HE Project are also insured under Construction All Risk Policy,” NHPC said in a stock exchange filing.

Hours after the development, shares of state-run NHPC were last seen trading 0.45 per cent lower at Rs 52.98 on Thursday. On BSE, 12.37 lakh shares changed hands today. The figure was lower than the two-week average volume of 18.35 lakh shares. Turnover on the counter came at Rs 6.51 crore, commanding a market capitalisation (m-cap) of Rs 53,268.82 crore.

Sikkim floods update 

A total of 14 people have died whereas 102 others including 22 army personnel are missing since the cloudburst over Lhonak Lake in north Sikkim triggered flash floods in the Teesta river basin on Wednesday. One of the 23 army personnel who went missing was rescued later, officials told PTI. The

Sikkim State Disaster Management said in its bulletin that 2,011 people have been rescued whereas 22,034 people were affected by the flash floods so far. More than 3,000 tourists are stranded in different parts of Sikkim. Many workers working on the Teesta Stage III dam in the Chungthang area were also stranded in tunnels of the dam. Due to the floods, Sikkim education department said in a notification that all schools located in Mangan, Gangtok, Pakyong, and Namchi districts will remain closed till October 8.

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