Tata Power's Strategic Move: Acquires 40% Stake in Bhutan Hydropower

Tata Power has acquired a 40% stake in Bhutan-based Khorlochhu Hydro Power Limited for Rs 830 crore. The acquisition is part of a strategic partnership with Druk Green Power Company to develop a hydropower project in Bhutan, with a total estimated cost of Rs 6,900 crore.

Tata Power announced on Monday that it has acquired a significant 40% stake in Khorlochhu Hydro Power Limited, a Bhutan-based energy company, for Rs 830 crore. The move is aimed at bolstering Tata Power's investment footprint in the renewable energy sector.

The Share Purchase Agreement has been executed between Tata Power, the existing shareholders of KHPL, and KHPL itself, as per Tata Power's official statement in an exchange filing. This strategic acquisition was approved by the Board of Directors of The Tata Power Company Limited on August 6.

Tata Power's latest development involves a collaborative venture with Druk Green Power Company to develop a hydro project in Bhutan, which is projected to require an investment totaling Rs 6,900 crore, reflecting a significant commitment to regional renewable energy initiatives.

(With inputs from agencies.)