JSW Energy has signed Shareholders' Agreement with Druk Green Power Corporation (DGPC), a wholly owned subsidiary of Druk Holding & Investments - the commercial arm of the Royal Government of Bhutan, for the joint development of the 920 MW Punatsangchhu-III Hydroelectric Project in Wangdue Phodrang District, Bhutan.
Pursuant to the Agreement, the project will be developed through a joint venture company in which DGPC will hold 51% and JSW Neo Energy (wholly owned subsidiary of the Company) will hold 49% of the equity share capital. This marks the company's first power generation venture outside India.
JSW Energy, part of the JSW Group, is a growing energy company. The Group has diversified interests in carbon steel, power, mining, industrial gases, port facilities, aluminium, cement and information technology.
