NHPC  forms JV with JKSPDCL for implementation of 850 MW Ratle hydropower project

NHPC Limited has signed a promoters agreement with Jammu & Kashmir State Power Development Corporation Limited (JKSPDCL) and Government of Union Territory of Jammu & Kashmir, entailing the formation of a joint venture (JV), namely  Ratle Hydroelectric Power Corporation Limited, for implementation of 850 MW Ratle hydroelectric project in Chenab river basin.

NHPC will hold 51 per cent stake while JKSPDCL will hold 49 per cent stake in the JV.  According the pact, the company will have an authorised share capital of Rs 16 billion divided into 1.60 billion equity shares of the face value of Rs 10. The initial paid-up share capital will be Rs 1 billion divided into 100 million equity shares of the face value of Rs 10 each, which will be subscribed by the promoters as early as possible but not later than 90 days from the date of incorporation of the company.

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