TATAPOWER

completes first tranche of Investment in Bhutan Hydro Project

has announced the completion of the first tranche of its strategic investment in Khorlochhu Hydro Power Limited (KHPL). This follows previous intimations on August 6, 2024, and October 28, 2024, regarding the proposed acquisition of a 40% equity stake in KHPL. In this initial tranche, Tata Power has invested ₹120 crore, subscribing to 1,20,00,000 equity shares of ₹100 each. This investment represents 40% of KHPL's issued and paid-up equity capital. KHPL, incorporated on June 12, 2015, operates in the Power Sector in Bhutan. The primary objective of this acquisition is the development of the 600 MW Khorlochhu Hydropower Project in Bhutan, estimated at a project cost of approximately ₹6,900 crore. This initiative aligns with Tata Power's strategy to accelerate its clean and green energy transition. No Indian governmental or regulatory approvals were required for this acquisition. The remaining tranches of the investment will be made over a period of five years. Post-acquisition, KHPL will become an associate company of Tata Power