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Joint Venture to Spend $3.2 Billion on New Hydro Projects

November 2, 2009 | Post Your Comment

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MUMBAI, India [HydroWorld.com] Norwegian energy company SN Power and Mumbai's Tata Power plan to invest up to 150 billion rupees (US$3.2 billion) to build hydroelectric projects in India and Nepal.

The joint venture partners want to build 2,000 MW of hydropower capacity by 2015. By 2020, they hope to have 4,000 MW in operation.

The joint venture partners want to build 2,000 MW of hydropower capacity by 2015. By 2020, they hope to have 4,000 MW in operation, the companies said.

Each project will be developed through a Special Purpose Vehicle structure. For SPVs in Nepal, SN Power will hold 50 percent of the total issued and paid-up capital of the SPV plus one equity share. For SPVs in India, Tata Power will hold 50 percent of the total issued and paid-up capital of the SPV plus one equity share.

Also, both companies are considering co-developing the Tamakoshi 3 hydroelectric project in Nepal. SN Power holds the licensing rights to that project. (From HydroWorld.com)

PennWell's Hydro Group publishes Hydro Review and HRW-Hydro Review Worldwide. Hydro Review, the magazine of the North American hydro industry, offers practical, useful information, helpful examples, and constructive guidance from experts. Each issue has an average readership of more than 50,000. HRW's mission is to share practical, technical information and expertise on hydroelectric power to the international hydro community. The magazine has circulation of more than 10,000.

Hydropower

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