Tata Power Company has planned acquisition of 40% equity stake in Khorlochhu Hydro Power (KHPL) in one or more tranches for which Share Purchase Agreement would also be executed between the Company, existing Shareholder of KHPL and KHPL.
The acquisition is for development of the 600 MW Khorlochhu Hydropower Project in Bhutan with an investment of around Rs 6,900 crore. This project will support Tata Power to accelerate its clean and green energy transition.
The acquisition will cost around Rs 830 crore for 40% equity stake. The acquisition will not fall under the related party transaction. However, post-acquisition, KHPL will become an associate company of Tata Power and consequently a related party.
Tata Power Company is India’s largest integrated power company.
