REC signs MoU for financing 600 MW Hydro Electric Project in Bhutan
REC Limited, Navratna company under the Ministry of Power, along with Power Finance Corporation Limited has signed a Memorandum of Understanding (MoU) on 9th March 2021 with Kholongchhu Hydro Energy Ltd. (KHEL) for financing of 600 MW Hydro Electric Project at TrashiYangtse, Bhutan.
REC Limited, Navratna company under the Ministry of Power, along with Power Finance Corporation Limited has signed a Memorandum of Understanding (MoU) on 9th March 2021 with Kholongchhu Hydro Energy Ltd. (KHEL) for financing of 600 MW Hydro Electric Project at TrashiYangtse, Bhutan. KHEL is a JV company of SJVN (India) and Druk Green Power Corporation Limited (Bhutan) set up with a 50:50 shareholding pattern for the development of the 600 MW Kholongchhu Hydro Electric Project in Eastern Bhutan. The MoU was signed in the presence of Sh. Sanjay Malhotra, CMD - REC, Sh. RS Dhillon CMD - PFC, Sh. NL Sharma, CMD - SJVNL, and Sh. Yeshi Wan
REC signs MoU for financing 600 MW hydroelectric project in Bhutan
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Last Updated: Mar 10, 2021, 08:35 PM IST
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Synopsis
The project is being executed as per an inter-governmental agreement signed between India and Bhutan in April 2014 to undertake implementation of four hydroelectric projects in Bhutan through a joint venture model.
Agencies
The project is proposed to be funded in debt-equity ratio of 70:30 and as per the MoU, REC would be extending Rupee Term Loan of Rs 2,029 crore
REC Limited on Wednesday said it along with Power Finance Corp has signed Memorandum of Understanding (MoU) with Kholongchhu Hydro Energy (KHEL) for financing of 600 Mw hydroelectric project at TrashiYangtse, Bhutan.