JSW Energy forms JV for 920 MW Bhutan Hydro Project

JSW Neo Energy Limited, a subsidiary of JSW Energy Ltd, has entered into a Shareholders' Agreement with Druk Green Power Corporation Limited (DGPC) for the joint development of the 920 MW Punatsangchhu-III Hydroelectric Project in Bhutan. The project will be developed on a Build-Own-Operate-Transfer basis through a special purpose joint venture company to be incorporated in Bhutan. DGPC will hold a 51% equity stake, while JSW Neo Energy will hold 49%. JSW Neo Energy's initial contribution is BTN 245 million. This marks JSW Energy's first power generation venture outside India.