Power Purchase Agreement (PPA) was signed between Chief Engineer, Power Development Department, UT Ladakh Ghulam Ahmad Mir and Project Director, KREDA Kacho Ahmed Khan in presence of Administrative Secretary, UT Ladakh Ravinder Kumar on February 8 at the Secretariat.

The PPA for 7 hydro projects already commissioned/ to be commissioned in UT Ladakh was signed between the two, in which Interim Power tariff @ ₹2/unit which was fixed vide Government Order No:54 (PDD)/UTL of 2021 Dated:04.02.2021 from the start of these hydro projects till JERC makes the tariff policy for UT Ladakh. The PDD is directed to make payments to KREDA as per the above notified tariff rates.

In case, if JERC fixes the final power tariff in excess of ₹2/unit, the PDD shall pay as per JERC tariff and vice versa.

The agreement was signed as per the decision of meeting held on February 4 in the review meeting on LREDA/KREDA issues under the chairmanship of Lieutenant Governor, UT Ladakh, Radha Krishna Mathur.

While speaking on the occasion, the Administrative Secretary, PDD said that this PPA would resolve the salary issues and other issues of the staff of KREDA and will bring efficiency in workers. This will further add up enthusiasm among the employees and they will work up to their fullest level in running and maintaining various hydro projects and other projects.

Further, PD KREDA thanked Lieutenant Governor, Administrative Secretary PDD, CEC LAHDC- Kargil and DC Kargil for this historic decision and supporting the KREDA in resolving their long pending issues.