Reliance Power sells 1,200 MW unit

New Delhi: Reliance Power has inked an agreement to sell its 1,200 MW Kalai II hydroelectric project in Arunachal Pradesh for Rs 128.39 crore to THDC India.

The purpose of entering into the agreement was to monetise the hydroelectric power project, Reliance Power said in a regulatory filing on Sunday. According to the filing, the Governor of Arunachal Pradesh, Kalai Power Private Ltd (a subsidiary of the company), and THDC India Ltd (THDC) have inked an agreement in this regard on December 30, 2023.

Under the pact, there will transfer of the development rights and associated physical assets, studies, clearances, designs and intellectual properties of the proposed 1,200 MW Kalai-II hydroelectric project located at the Lohit river basin of Arunachal Pradesh to THDC for an aggregate consideration of Rs 128.39 crore, subject to certain indemnities, representations and covenants, it stated.