Statkraft acquires Tidong hydropower project in India

10 September 2018

Statkraft has acquired the 100 MW Tidong hydropower project in Himachal Pradesh, India. Approximately 60% of the project works have been constructed so far.

Tidong hydropower
Source: Google

The Tidong hydropower project is located on Tidong River, a tributary of Sutlej River, in the state of Himachal Pradesh (HP), in north-western India. The planned installed capacity is 100 MW, although there is a possibility for further expansion that will be evaluated. The acquisition is in line with Statkraft’s strategy to develop renewable energy generation, building on Statkraft’s more than 120 years of hydropower experience.

The Tidong project is approximately 60% complete. Construction works will resume immediately after the closing of the transaction. The remaining construction works are expected to be completed in approximately two years.

The Tidong project management team, where most of the key resources have experience from recent Statkraft construction projects, is handpicked to manage this risk, and have strengthened the project organization with additional HSE expertise.

The transaction is an acquisition of 100% of the shares in NSL Tidong Power Generation Private Limited.

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