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JSW Energy Unit to Form JV for Hydroelectric Project Development in Bhutan

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JSW Energy (NSE:JSWENERGY, BOM:533148) unit JSW Neo Energy entered into a shareholders' agreement with Druk Green Power for the joint development of the 920-megawatt Punatsangchhu-III Hydroelectric Project.

The project in Wangdue Phodrang District, Kingdom of Bhutan, will be developed on a Build-Own-Operate-Transfer basis through a special purpose joint venture company, according to a Wednesday Indian bourse filing.

The Royal Government of Bhutan-owned Druk Green Power and JSW Neo Energy will own 51% and 49%, respectively, in the Bhutan-based joint venture.

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