Tata Power's Bhutan Dorjilung Hydro Project Financing

Bhutan and World Bank sign $515M financing for 1,125MW Dorjilung hydro project, Bhutan's largest PPP hydropower development.
Tata Power holds 40% stake in project SPV through joint venture with Bhutan's Druk Green Power Corporation (60%).
Project will generate 4,500GWh annually, increase Bhutan's GDP by 2.4%, and export 80% of power to India.
Innovative $1.7B financing structure minimizes sovereign risk with only $150M direct Bhutan credit exposure.