New Delhi, Oct 9 () State-run hydro power giant NHPC on Wednesday said it has completed formalities for taking over 500 MW Teesta VI hydro power project, which it has bagged under corporate insolvency resolution process.
NHPC had last week signed a definitive agreement for implementation of approved resolution plan for takeover and resolution of Lanco Teesta Hydro Power Ltd, which was executing the 500 MW (125 MWx 4) Teesta VI hydro project on Teesta river in Sikkim.
“NHPC has completed the formalities for the takeover of the 500 MW (125 MW x 4) Teesta VI HEP on Teesta River by remitting the resolution plan consideration of Rs 897.50 crore to the account of Lanco Teesta Hydro Power Limited for distribution to all the creditors as per the approved resolution plan,” NHPC said in a statement.
