New Delhi-founded law firm SKV Law Offices has advised Tata Power Company in the formation of a strategic partnership with Druk Green Power Corporation (DGP) to develop the 600 MW Kholongchhu Hydropower Project in Bhutan.
The project is a public-private partnership between Tata Power and government-owned DGP, wherein Tata will make a 40 percent equity investment in Kholongchhu Hydro Power Limited worth $98.8 million. The estimated project cost, including financing charges, is approximately $822 million, with a construction timeline of five years.
The Kholongchhu Hydropower Project is located in eastern Bhutan on the Kholongchhu River and aligns with the country’s ambitious target of achieving 15 GW of hydropower capacity by 2040. It will enhance Bhutan’s energy security while supplying clean energy to India.
Once operational, the Kholongchhu project will address Bhutan’s increasing winter electricity demand and export surplus power to India during summer months through long-term power purchase agreements, SKV said in a statement.
The SKV team on the transaction comprised managing partner Shri Venkatesh, partner Pranav Bhaskar, counsel Ashutosh K. Srivastava, and associates Tejaswi Dudeja, Kartikay Trivedi, Manu Tiwari and Adarsh Kashyap.
SKV is an energy and infrastructure-focused law firm founded in 2013. The firm regularly advises Tata Power on its transactional and regulatory issues and has particular expertise in the electricity sector. It has four partners, including disputes pro Shryeshth Ramesh Sharma, who joined the firm from HSA Advocates earlier this year.
