Nagarjuna Agrichem announces funding for new 300 MW hydropower project in north India

Development group Nagarjuna Agrichem will invest US$19 million in a new 300 MW hydropower project on India’s Tolung Chu River, HydroWorld.com has learned.

The financing represents about 20% of the yet-to-be-named project’s cost.

The hydroelectric plant will be located in the northern Indian state of Sikkim with commissioning expected in the 2014-15 fiscal year.

The complex will be implemented by Himagiri Hydro Energy, which is a branch of Nagarjuna Agrichem. The Andhra Pradesh-investment group has interests in refining, life sciences and power generation.

Also in India’s north, HydroWorld.com recently reported that the Abu Dhabi National Energy Company (TAQA) had acquired a minority interest in Himachal Sorang Power Limited (HSPL).

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