Power Finance Corporation signed MoU with KHEL to extend term load on hydro project
- Indian Masterminds Bureau
- Published on 13 Mar 2021, 4:01 pm IST
- 1 minute read
Highlights
The MoU was signed in the presence of PFC CMD RS Dhillon, REC CMD Sanjay Malhotra, SJVNL CMD NL Sharma, and KHEL Chairman Dasho Yeshi Wangdi.
The Power Finance Corporation Ltd. (PFC) along with REC Ltd. has signed a Memorandum of Understanding (MoU) with Kholongchhu Hydro Energy Ltd (KHEL). The MoU is for extending a Term Loan of ₹4,058 Crore for 600 MW Hydro Electric Project at Trashi Yangtse, Bhutan.
The MoU was signed in the presence of PFC CMD RS Dhillon, REC CMD Sanjay Malhotra, SJVNL CMD NL Sharma, and KHEL Chairman Dasho Yeshi Wangdi. Some other senior officer also joined this signing event through video conferencing.
The Term loan will be shared between PFC and REC in equal proportion. Apart from both ₹ 400 crores are proposed to be arranged from the Bank of Bhutan and ₹200 crores from NPPF BhutanRelated Stories
KHEL is a joint venture company of SJVN Ltd. (India) and Druk Green Power Corporation Ltd (DGPC) (Bhutan). This is the first project being executed in the Joint Venture (JV) model in Bhutan. The project is expected to be commissioned in FY 2025-26 and will generate about 2,569 Million Units of energy. This will meet the future power requirement of India and Bhutan.
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