Tata Power signs agreements to pick 40% stake in special purpose vehicle for Bhutan project
Tata Power on Friday said it has signed commercial agreements with Druk Green Power Corporation to acquire a 40 per cent stake in a special purpose vehicle for Rs 1,572 crore to set up the 1,125 MW Dorjilung hydro power project in Bhutan.
At a total project cost of Rs 13,100 crore, Dorjilung will be Bhutan’s second-largest hydropower project, and the largest public-private partnership (PPP) hydro project ever undertaken in the country.
As part of the agreement, Tata Power has committed an equity investment of approximately Rs 1,572 crore to be infused in tranches as per the agreed structure.
