The Tata Power Invests INR500 Million In Dorjilung Hydro Power Project

MT Newswires Live

03/10

Tata Power (NSE:TATAPOWER, BOM:500400) has invested 500 million rupees in Dorjilung Hydro Power by subscribing to 5 million equity shares, as part of its planned investment to acquire a 40% stake in the company, according to a Monday filing.

Shares of Tata Power rose over 2% on Tuesday.

This represents the first tranche of a proposed 15.7 billion strategic investment for the development of the 1,125 MW Dorjilung hydro power project in Bhutan, the filing said.

The remaining investment will be made in phases over the next six years.

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