Tata Power Limited has acquired a 40 per cent stake in Khorlochhu Hydro Power Limited (KHPL) for Rs 1.2 billion, which is the first tranche out of a total investment of approximately Rs 8.30 billion.
The acquisition involves the subscription of 12 million equity shares at Rs 100 each which represents 40 per cent of the issued and paid-up equity capital of KHPL. The total investment across all tranches is estimated at Rs 8.3 billion, to be completed over five years. The project involves the development of the 600 MW KHPL in Bhutan for a total cost of approximately Rs 69 billion.
