REC, PFC sign pact to finance 600-megawatt hydropower project in Bhutan

State-owned entities REC Ltd and Power Finance Corporation (PFC) have entered into a pact with Bhutan-based Kholongchhu Hydro Energy Ltd (KHEL) to finance a 600-megawatt hydroelectric project at Trashiyangtse in the neighbouring country.

KHEL is a 50:50 joint venture between SJVN India and Druk Green Power Corporation (Bhutan) set up for developing the 600-MW Kholongchhu hydroelectric project in the eastern Bhutan, REC Ltd said in a statement on Wednesday.

REC Ltd along with PFC has signed memorandum of understanding (MoU) on March 9, 2021, with Kholongchhu Hydro Energy Ltd for financing of 600-MW hydroelectric project at Trashiyangtse, Bhutan, the REC statement said.