Kolkata, Aug 17 (IANS): The Centre is set to finalise the creation of a Rs 16,000 crore hydropower development fund to revive stalled projects in the country, a top government official said on Thursday.

"We have 14 stalled hydropower projects, which are worth around Rs 26,000 crore... We are thinking of creating a hydropower development fund," Central Electricity Authority's member (Hydro) K.K. Arya said here.

Addressing an Energy Conclave, organised by the Confederation of Indian Industry (CII), Arya said the hydropower policy was almost in its final stage.

"The Expenditure Finance Committee note was of Rs 16,000 crore and the fund would be managed from two to three sources," he said.

"There was a meeting by the Cabinet Secretary. Meetings with bankers, developers and regulators are going on," he added.

The Union Power Ministry was bringing out the policy to revive the sector that has gone "sluggish". The policy would include a proposal for considering hydropower as renewable energy, he said.