"Reliance Power Ltd Arm to Transfer Rights of Kalai II HEP in Lohit River Basin to THDC"

In a significant development, an agreement dated December 30, 2023, has been formalized among the Governor of Arunachal Pradesh, Kalai Power Private Limited (a subsidiary of Reliance Power Limited), and THDC India Limited (THDC).

The agreement outlines the transfer of development rights and associated physical assets, studies, clearances, designs, and intellectual properties of the proposed 1200 MW Kalai-II Hydro-Electric Project situated in the Lohit River Basin of Arunachal Pradesh to THDC. The transfer is set at an aggregate consideration of Rs. 128.39 crore, subject to specific indemnities, representations, and covenants as defined in the agreement. This strategic move reflects the ongoing collaboration and realignment of project responsibilities among the involved entities, marking a significant development in the energy sector.

EQUITYBULLS