SKV Law Offices represented the Tata Power Company Limited (“TPCL”) in the formation of a strategic partnership with Druk Green Power Corporation Limited (“DGPC”) to develop the 600 MW Khorlongchhu Hydropower Project in Bhutan. This initiative marks a significant milestone in Tata Power’s expansion in the renewable energy sector and reinforces its commitment to sustainable development.
The Khorlongchhu Hydropower Project is located in eastern Bhutan on the Kholongchhu river and aligns with the country’s ambitious target of achieving 15 GW of hydropower capacity by 2040. It will enhance Bhutan’s energy security while supplying clean energy to India. The project extends upon the existing partnership between TPCL and DGPC in the 126 MW Dagachhu Hydropower Plant. Once operational, the Khorlongchhu project will address Bhutan’s increasing winter electricity demand and export surplus power to India during summer months through long-term Power Purchase Agreements.
The Project has been made possible with a public-private partnership between TPCL and DGPC. The partnership involves a 40% equity investment by TPCL in Khorlongchhu Hydro Power Limited, a public-private partnership company amounting to ₹ 830 crores. The estimated project cost, including financing charges, is approximately ₹6,900 crores, with a construction timeline of 5 years. All statutory approvals are in place, allowing construction work to commence immediately.
The SKV Law Offices team on the transaction comprised of Mr. Pranav Bhaskar (Partner), Mr. Shri Venkatesh (Managing Partner), Ashutosh K. Srivastava (Counsel), Tejaswi Dudeja (Associate), Kartikay Trivedi (Associate), Manu Tiwari (Associate) and Adarsh Kashyap (Associate).
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