Khorlochhu Hydro Power Limited (KHPL), a special purpose vehicle for developing the 600 MW Khorlochhu Hydropower Project in Bhutan, has signed the Rs 48.29 billion loan agreement with Power Finance Corporation Limited (PFC).
The agreement also provides for a further standby credit facility of Rs 9.50 billion. KHPL is a joint venture between Druk Green Power Corporation holding a 60 per cent stake, and Tata Power Company Limited, holding 40 per cent. The company is developing the 600 MW Kholongchhu Hydropower Project in Trashiyangtse Dzongkhag at an estimated cost of Rs 69 billion. Evacuation infrastructure includes a 145 km, 400 kV double-circuit transmission line to the Goling pooling station, to be constructed by Bhutan Power Corporation Limited.