India’s Tata Power takes stake in Bhutan’s 114-MW Dagachhu

India’s Tata Power Co. Ltd. has agreed to take a 26 percent stake in the 114-MW Dagachhu hydroelectric project on Bhutan’s Dagachhu River.

Tata said July 21 it is joining in partnership with the government of Bhutan to develop the project through Druk Green Power Corp. Ltd. The project is being executed by special purpose vehicle Dagachhu Hydro Power Corp. Ltd.

Dagachhu Hydro is seeking bids by September 2 for civil construction of the project. (HNN 7/9/08)

Tata Power agreed to acquire the 26 percent equity stake, while Tata Power Trading Co. Ltd. has negotiated to purchase all power generated by the project for 25 years, delivered to the India-Bhutan border.

Power is expected to be delivered on the 1,200-kilometer transmission line built to deliver power to India’s eastern region from Bhutan’s 1,020-MW Tala hydroelectric project. (HNN 6/25/07) Bhutan brought Tala on line in 2006 with India’s assistance. (HNN 3/31/08)

Tata Power Trading Co. signed an agreement earlier this year with Norway’s Statkraft Norfund Power Invest AS (SN Power) to develop hydropower projects in Nepal, Bhutan, and India. (HNN 2/14/08)

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