Tata Power Company to acquire 40% equity stake in SPV
The cost of acquisition is around Rs 1,572 crore for 40% equity stake, in one or more tranches
Tata Power Company has proposed acquisition of 40% equity stake in Special Purpose Vehicle (SPV) in one or more tranches for which Shareholders Agreement would also be executed between the Company and Druk Green Power Corporation (DGPC). The objective of acquisition is for development of the 1125 MW Dorjilung Hydro Power Project in Bhutan at project cost of Rs 13,100 crore. This project will support the Company to accelerate its clean and green energy transition. The cost of acquisition is around Rs 1,572 crore for 40% equity stake, in one or more tranches. First tranche shall tentatively be completed within 6 months.
Tata Power Company is India’s largest integrated power company. It is a pioneer credited with steering the energy sector on technology, process and platform.
