Tata Power acquires 26% in Bhutan hydro-power project

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New Delhi, Jul 21 (UNI) Country's largest private power utility, Tata Power today said it has acquired 26 per cent stake in 114 MW hydro-power project and will deliver the generated power at the India-Bhutan border.

The company has bought 26 per cent stake in the project, while Tata Power trading has negotiated to purchase all the power generated from the project, a company statement said.

''Tata Power Trading will off-take power from the project for a period of 25 years and the power will be delivered at India-Bhutan border,'' it added.

Tata Power has entered into a partnership with the Royal Government of Bhutan through Druk Green Power Corp (DGPC) for developing the said project.

The project will be executed by the Special Purpose Vehicle Dagachhu Hydro Power Corp, the statement said.

However, no financial details or the terms of the partnership were disclosed.

''This partnership consists of equity participation and off-take of power by the company and Tata Power Trading Company respectively,'' Managing Director, Tata Power, Prasad Menon said.

The power is expected to be evacuated through the Tala Transmission Link into India's Eastern Region Grid.

UNI AK PDT HS2034

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