NHPC forms JV 'Ratle Hydroelectric Power Corp'; Stock jumps 2%

Ratle Hydroelectric Project (850 MW), is a Run of River Scheme located on River Chenab, Kishtwar district, Union Territory of Jammu and Kashmir.

Jun 08, 2021 02:06 IST India Infoline News Service

NHPC
State-owned NHPC has formed a joint venture company, “Ratle Hydroelectric Power Corporation Limited” for the implementation of the 850 MW Ratle Hydroelectric Project.

The JV has been incorporated on June 01, 2021, between NHPC and Jammu & Kashmir State Power Development Corporation Ltd (JKSPDC) holding an equity share of 51% and 49% respectively. Ratle Hydroelectric Project (850 MW), is a Run of River Scheme located on River Chenab, Kishtwar district, Union Territory of Jammu and Kashmir.

Ministry of Power has already conveyed investment sanction for the construction of the 850 MW Ratle HE Project at an estimated cost of Rs5281.94cr (at Nov.2018 price level). Subsequently, the Promoters Agreement was signed on 13.04.2021 leading to the incorporation of Ratle Hydroelectric Power Corporation Limited.

A tripartite Memorandum of Understanding (MoU) was signed in February 2019, amongst JKSPDC, NHPC and erstwhile Government of Jammu & Kashmir.

At around 2.06 pm, NHPC was trading at Rs26.85 per piece up by 1.7% on Sensex.

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