THDC receives US648 million World Bank loan for India hydro project

THDC India Ltd has received loan of US$648 million from the World Bank for a hydropower project in Uttarakhand.

With the loan, the 444-MW Vishnugad Pipalkoti hydroelectric project has achieved full financial closure, news agencies reported.

The project is expected to be completed by 2016, reports indicate.

THDC has a portfolio of hydro projects in Uttarakhand, Maharashtra and Bhutan with aggregate capacity of 8,868 MW.

In other news, IFC, a member of the World Bank Group, and the European Bank for Reconstruction and Development, recently announced US$115.5 million in funding for a hydropower project in Georgia.

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