Tata Power to acquire KHPL Power Project worth Rs 830 crore
Tata Power is to acquire a 40% stake in a hydropower project in Bhutan for Rs 830 crore as part of its plans to ramp up its green energy portfolio in one or more tranches.
The project, entailing a capacity of 600MW, will require an investment of Rs 6,900 crore. Once the stake purchase is completed, Khorlochhu Hydro Power will become an associate company of Tata Power. Tata Power will partner with Druk Green Power to develop a 600MW Power station.
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The Company is working towards large-scale RTC availability by harnessing the vast potential of hydropower through the development of the 600 MW Khorlochhu power project in Bhutan, and the upcoming 2800 MW pumped hydro storage plants in Maharashtra.
Tata Power, one of India's largest integrated power companies, today reported its financial results for Q1FY25. At Rs 1,189 Crore, growing 31% YoY, the Company reported its highest ever and 19th consecutive quarter of PAT growth on the back of strong operational performance and execution excellence across all its businesses of Generation, Transmission & Distribution, and Renewables.
These businesses contributed 84% of the PAT in Q1FY25 compared to 72% in the same period in FY24. The Company’s Revenue rose 12% YoY to a record high of Rs 16,810 Crore, and EBITDA grew 11% to Rs 3,350 Crore in the reported quarter.
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