NHPC’s Rs 165-crore bid for Jal Power’s 120 MW Rangit project gets lenders’ nod

New Delhi: State-run hydro power giant NHPC has emerged as the successful bidder for insolvency-bound Jal Power Corporation’s 120MW Rangit project in Sikkim with a bid of Rs 165 crore.

“NHPC Ltd has been declared as the Successful Resolution Applicant by the Committee of Creditors (CoC) of Jal Power Corporation Limited (120 MW Rangit Stage IV HE Project) subject to approval of Resolution Plan by the Hon’ble National Company Law Tribunal, Hyderabad Bench,” an NHPC statement said.

Meanwhile, a source said that NHPC quoted around Rs 165 crore for the project under insolvency proceedings.