Tata Power Company Limited has invested ₹50 crore in Dorjilung Hydro Power Limited (DHPL), acquiring a 40% equity stake in the Bhutan-based hydropower developer. The investment was made through the subscription of 50,00,000 equity shares with a face value of ₹100 each.
According to the company’s filing, this investment represents the first tranche of a larger planned investment in the project.
Shareholder Agreement with Druk Green Power
The transaction follows a shareholders’ agreement signed in November 2025 between Tata Power and Druk Green Power Corporation Limited (DGPC), a key hydropower developer in Bhutan.
The partnership is aimed at jointly developing a major hydropower project in the country.
Development of 1,125 MW Hydropower Project
Dorjilung Hydro Power Limited has been established to develop the Dorjilung Hydropower Project, which is planned to have an installed capacity of 1,125 megawatts (MW).
The project is expected to involve a total investment of around ₹13,100 crore. Hydropower projects in Bhutan are often developed with regional partners and typically supply electricity both within the country and to neighbouring markets.
Investment to Be Made Over Multiple Phases
The current ₹50 crore infusion marks the initial phase of Tata Power’s participation in the project. The company has indicated that additional investments will be made in several tranches over approximately six years.
The stake acquisition has been completed through cash consideration, and once the process is finalised, Dorjilung Hydro Power Limited will be treated as an associate company of Tata Power.
About Dorjilung Hydro Power Limited
Dorjilung Hydro Power Limited was incorporated on December 8, 2025, and operates in the power generation sector. The entity has been created specifically to undertake the development of the Dorjilung hydropower project.
Since the company is newly established, it currently does not have financial records such as revenue, profit after tax, or net worth for the previous three years. Its operations are based in Bhutan.
Summary:
Tata Power has invested ₹50 crore to acquire a 40% stake in Dorjilung Hydro Power Limited, marking the first tranche of a phased investment in the 1,125 MW Dorjilung Hydropower Project in Bhutan. The project, estimated to cost around ₹13,100 crore, will be developed in partnership with Druk Green Power Corporation, with further investments planned over the next six years.
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