NEW DELHI: The Public Investment Board (PIB) on Thursday gave approval for the Rs 26,070-crore, 1,720 MW Kamala hydroelectric project in Arunachal Pradesh.Sources said the project will generate nearly 6,870 million units of green energy annually, contributing to the government’s energy transition initiatives and its net-zero target by 2070. In addition to power generation, the project is envisaged to provide flood relief in the Brahmaputra valley.The Kamala Hydroelectric Project, earlier known as the Subansiri Middle HEP, is a storage-based scheme with a flood moderation component. It is proposed on the Kamala River and is located in Kamle, Kra Daadi and Kurung Kumey districts of Arunachal Pradesh. The project involves the construction of a 216-metre-high concrete gravity dam and an underground powerhouse, with a scheduled completion period of 96 months.The project will be implemented on a build-own-operate-transfer basis through a joint venture company, with NHPC holding 74% equity and the government of Arunachal Pradesh 26%.The completion cost of the project is estimated at Rs26,069.5 crore and is proposed to be financed with a debt-equity ratio of 70:30. This will be supported by the Centre’s grants for enabling infrastructure (Rs1,340 crore) and the flood moderation component (Rs4,744 crore), along with 100% reimbursement of state GST by the Arunachal Pradesh govt. “Considering these aspects, the levelised tariff of the project is estimated at Rs5.97 per unit,” a source said.The project is expected to generate around 300 direct jobs and 2,500 contract jobs during the peak construction period.