Tata Power Company (TPC) has agreed to pick up a 26 per cent stake in the Royal Government of Bhutan (RGoB) promoted 114 mw hydro electric power project over river Dagachhu through Druk Green Power Corporation (DGPC).
The project will be executed by a special purpose vehicle Dagachhu Hydro Power Corporation (DHPC). "This partnership consists of equity participation and off-take of power by the company and Tata Power Trading Company," said Prasad R Menon, managing director, Tata Power.
As part of the partnership, Tata Power has acquired a 26 per cent stake in the project, while Tata Power Trading has negotiated to purchase all the power generated from the project. 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.
