Statkraft has announced it has acquired the 100MW Tidong hydropower project, currently under construction in Himachal Pradesh, India.
The project, which is around 60% complete, is located on Tidong River, a tributary of Sutlej River. The planned installed capacity is 100MW, although there is a possibility for further expansion that will be evaluated, Statkraft said.
Construction works are to resume on the project as soon as the transaction is closed. The remaining construction works are expected to be completed in approximately two years.
In preparation of the construction phase, special attention has been given to health and safety measures. This is one of the major execution risks for projects in remote mountainous regions. 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.
