Trade Analytics

This is the ARCHIVED section of the website. To visit the current content of the website please CLICK here


Go Back

GE Energy invests Rs 257 cr in Gati’s Sikkim hydel project

The Hindu Business Line:  July, 2013

Hyderabad: GE Energy Financial Services India has invested Rs 257 crore in the Sikkim hydro-power project developed by Gati Ltd.

The investment was made through a share subscription agreement, according to Gati.

Gati Infrastructure Pvt Ltd, the energy initiative of Mahendra Agarwal, Founder and CEO of Gati Ltd, has developed the 110-megawatt Chuzachen hydro-electric project in east Sikkim to harness the water flow from the rivers Rangpo and Rongli. The project was commissioned in May.

The run-of-river hydel project has turbines and generators from Alstom India Ltd. The project built at a cost of Rs 1,188 crore is the first one of such size under private ownership in the North_East. IDFC is the lead financier with a loan at the project level. Capital Fortunes Pvt Ltd, Hyderabad, are the advisors and sole arrangers.

Mahendra Agarwal said, “Sikkim is a growing economy in the North-East with average rainfall higher than in several other Himalayan States. With glacial melt and the perennial rivers, Sikkim has a peak potential capacity of 8,000 megawatts of hydro-electric power.”