SJVN sells its entire stake in Bhutanese hydropower JV KHEL

SJVN Limited has sold its entire 50 percent stake in the Bhutanese Joint Venture Company Kholongchhu Hydro Energy Limited (KHEL)

Alt=
SJVN sells its entire stake in Bhutanese JV KHEL

New Delhi: Shimla-based PSU SJVN Limited said on Wednesday that it has sold its entire stake in the Bhutanese joint venture (JV) company Kholongchhu Hydro Energy Limited (KHEL). SJVN had 50 percent stake in KHEL. The entire stake (ie 50 percent) of SJVN Limited was bought by the JV partner Druk Green Power Corporation, Bhutan, at Rs 354.71 crore. SJVN Limited said that the stake sale was done in line with the directions received from the Ministry of Power.

“Company has sold its entire stake in the Bhutanese Joint Venture Company i.e, Kholongchhu Hydro Energy Limited (KHEL) as per the directions received from the Ministry of Power, Government of India,” said SJVN in a regulatory filing.

SJVN is a Miniratna PSU under the Ministry of Power. It has a portfolio of around 45,000 MW with 2,091 MW under operation, 12 projects of 4,323 MW under construction and 38,364 MW under various stages of development. In the year 2022 alone, 14 renewable projects of 1641 MW capacity have been bagged across the country. SJVN plans to invest Rs 1.6 lakh crore by 2030 and Rs 2.3 lakh crore by 2040.

(PSU Watch– India’s Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)