Tata’s Bhutan power project to get $815 mn WB finance
image for illustrative purpose
New Delhi: The World Bank has approved the $ 815 million long-term finance package for 1,125 megawatt Dorjilung Hydropower Project, in which Tata Power holds 40 per cent share.
The remaining 60 per cent in the special purpose vehicle (SPV) is held by Bhutan’s Druk Green Power Corporation (DGPC).
The Board of Executive Directors of the World Bank has approved and sanctioned long-term financing for the 1,125 MW Dorjilung Hydropower Project (DHPL), Tata Power said in statement.
The financing package includes a $ 150 million grant and a $ 150 million credit from the International Development Association (IDA) and a $ 15 million enclave loan from the International Bank for Reconstruction and Development (IBRD) to DGPC (Government of Bhutan).
The package also includes as a $ 200 million IBRD enclave loan and a $ 300 million loan from the International Finance Corporation (IFC) to Dorjilung Hydro Power Limited (DHPL).
The balance funding requirements for the project will be arranged from various market participants.
