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Power Finance Corporation, along with subsidiary REC, on Thursday signed an MoU with Kholongchhu Hydro Energy Ltd to extend a term loan of ₹4,058 crore for a 600 MW hydroelectric project in Trashi Yangtse, Bhutan.
The project is proposed to be funded in a debt-to-equity ratio of 70:30, PFC said in a statement. The loan shall be shared in equal proportion by PFC and REC. An additional ₹400 crore is proposed to be arranged from Bank of Bhutan and NPPF, Bhutan.
A joint venture between India’s SJVN and Bhutan’s Druk Green Power Corporation, Kholongchhu Hydro Energy Ltd will build the hydroelectric plant, the first project in Bhutan to be executed under a JV model, the statement said. The project is expected to be commissioned in the financial year ending March 2026 and will generate about 2,569 million units of energy which will meet the future power requirement of India and Bhutan, it added.
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