Tata Power Completes Second Tranche of Rs 60 Cr in Khorlochhu Hydro
Filing Summary
Tata Power Company Ltd has completed the second tranche of its acquisition in Khorlochhu Hydro Power Limited (KHPL), investing ₹60 crore. This investment is part of a total planned investment of approximately ₹830 crore to acquire a 40% equity stake in KHPL. The acquisition involves subscribing to 60,00,000 equity shares of ₹100 each. KHPL, involved in the development of a 600 MW hydropower project in Bhutan, has become an associate company of Tata Power. The transaction is executed under a Share Purchase Agreement, with no Indian governmental approvals required.
Tata Power Company Ltd has completed the second tranche of its acquisition in Khorlochhu Hydro Power Limited (KHPL). The company invested ₹60 crore in this tranche, subscribing to 60,00,000 equity shares of ₹100 each. This investment is part of a total planned investment of approximately ₹830 crore to acquire a 40% equity stake in KHPL.
The acquisition is executed under a Share Purchase Agreement between Tata Power, KHPL, and the existing shareholder of KHPL. This transaction does not involve any related party interests from Tata Power’s promoter or promoter group. However, KHPL has become an associate company of Tata Power, making it a related party transaction.
KHPL is engaged in the development of the 600 MW Khorlochhu Hydropower Project in Bhutan, with a project cost of approximately ₹6,900 crore. The project is part of Tata Power’s strategy to enhance its clean and green energy portfolio. No Indian governmental or regulatory approvals are required for this acquisition.
The second tranche has been completed, with the remaining tranches expected to be executed over a period of five years. The transaction is in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, and the SEBI Master Circular dated November 11, 2024.
Tata Power is a leading integrated power company in India, focusing on the generation, transmission, and distribution of electricity. The company is committed to expanding its renewable energy portfolio and enhancing its presence in the clean energy sector. Tata Power continues to explore strategic investments and partnerships to support its growth and sustainability objectives.