The project will be executed by a special purpose vehicle Dagachhu Hydro Power Corporation (DHPC).
"This partnership consists of equity participation and off-take of power by the company and Tata Power Trading Company," said Prasad R Menon, managing director, Tata Power.
A press release said as part of the strategic partnership, Tata Power has acquired a 26 per cent stake in the project, while Tata Power Trading has negotiated to purchase all the power generated from the project. Tata Power Trading will off-take power from the project for a period of 25 years and the power will be delivered at India-Bhutan border. The power is expected to be evacuated through the Tala Transmission Link into India's Eastern Grid.
The 1200 kilometre Tala transmission project evacuates power from the 1,020 mw Tala hydro-electric power in Bhutan to the power deficit national grid. The project is a joint venture between Tata Power and Power Grid Corporation of India.
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