India's largest private power utility Tata Power announced Monday it will develop a hydro-power project in Bhutan in partnership with the Bhutanese government. Tata Power will also purchase all the power the project generated.
In a regulatory statement, Tata Power said it has acquired 26 percent in a 114 megawatt hydro-electric power plant over river Dagacchu, through the Bhutan government-owned Druk Green Power Corp Ltd (DGPC).
"This partnership consists of equity participation by Tata power, and off-take of power by Tata Power Trading Co Ltd respectively," Tata Power managing director Prasad Menon said in the statement released in Mumbai.
According to Prasad, Tata Power Trading Co Ltd., a "strategic relationship" partner of Tata Power, will purchase all the power from the project for a period of 25 years.
The power will be delivered through the Tala transmission line to the India-Bhutan border, from where it will be subsumed into the Eastern Region Grid.
Tata Power, which has an installed generation capacity of over 2,300 megawatt, is already present in Bhutan, in a joint partnership with the public sector Power Grid Corp to transmit power in Tala hydro-power project from Bhutan to Delhi. |
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