PFC, REC sign up for Bhutan hydro project

12 Mar 2021 CW Team

KHEL is a 50-50 joint venture (JV) between Druk Green Power Corporation (Bhutan) and SJVN India, set up for developing the 600 MW Kholongchhu hydroelectric project in eastern Bhutan.

PFC and REC Ltd signed a memorandum of understanding (MoU) with KHEL, for the project on 9 March 2021.

In a statement to the media, REC said that the project is proposed to be funded in a debt equity ratio of 70:30, and as per the MoU, REC would extend a rupee term loan of Rs 2,029 crore. The balance debt shall be extended by PFC (Rs 2,029 crore), National Pension and Provident Fund (NPPF), Bhutan (Rs 200 crore), and Bank of Bhutan (Rs 200 crore).

4th Indian Cement Review Conference 2021

17-18 March

Click for event info

REC also said the project is being executed as per an inter-governmental agreement signed between the Government of India (GoI) and the Royal Government of Bhutan (RGoB) in April 2014 to undertake the implementation of four hydroelectric projects in Bhutan through a JV model to be formed by PSUs of the two governments.

KHEL is the first JV being undertaken between the two governments for implementing the 600 MW Kholongchhu hydroelectric project.

PFC and REC, both under the administrative control of the Ministry of Power (MoP), are non banking financial companies in the power sector.

Image: Tala hydroelectric project, Chhukha, Western Bhutan

Also read: India signs up to boost infra projects in Maldives

Also read: Efforts underway to operationalise infra links with CMLV countries

State-owned companies Power Finance Corporation (PFC) and REC Ltd and have inked a pact with Bhutan based Kholongchhu Hydro Energy Ltd (KHEL) to finance a 600 megawatt (MW) hydroelectric project at Trashiyangtse in Bhutan. KHEL is a 50-50 joint venture (JV) between Druk Green Power Corporation (Bhutan) and SJVN India, set up for developing the 600 MW Kholongchhu hydroelectric project in eastern Bhutan. PFC and REC Ltd signed a memorandum of understanding (MoU) with KHEL, for the project on 9 March 2021. In a statement to the media, REC said that the project is proposed to be funded in a debt equity ratio of 70:30, and as per the MoU, REC would extend a rupee term loan of Rs 2,029 crore. The balance debt shall be extended by PFC (Rs 2,029 crore), National Pension and Provident Fund (NPPF), Bhutan (Rs 200 crore), and Bank of Bhutan (Rs 200 crore).4th Indian Cement Review Conference 202117-18 March Click for event info REC also said the project is being executed as per an inter-governmental agreement signed between the Government of India (GoI) and the Royal Government of Bhutan (RGoB) in April 2014 to undertake the implementation of four hydroelectric projects in Bhutan through a JV model to be formed by PSUs of the two governments. KHEL is the first JV being undertaken between the two governments for implementing the 600 MW Kholongchhu hydroelectric project. PFC and REC, both under the administrative control of the Ministry of Power (MoP), are non banking financial companies in the power sector. Image: Tala hydroelectric project, Chhukha, Western BhutanAlso read: India signs up to boost infra projects in Maldives Also read: Efforts underway to operationalise infra links with CMLV countries

Resources

09 Mar 2026

Haworth India Hosts Women’s Leadership Panel Series

Haworth India marked International Women’s Day by hosting a leadership roundtable series titled ‘Give to Gain’, bringing together senior women leaders from architecture and design firms, corporates and project management consultancies. The series has been conducted in Delhi and Mumbai, with upcoming sessions scheduled in Bengaluru and Hyderabad on 27 March 2026. Structured as moderated panel discussions followed by audience interaction, the initiative examined the business impact of women’s leadership and the role of inclusive workplaces in supporting professional growth. Manish Khan..

Real Estate

09 Mar 2026

Max Estates Secures RERA For Max One Project

Max Estates has secured RERA approval (UPRERA No.: UPRERAPRJ9759) for its Max One development around Max Towers in Sector 16B, Noida, bringing renewed progress to a project previously stalled following the insolvency of its earlier developer. Spread across around 10 acres with an estimated development potential of about 2.5 million sq ft, Max One is planned as an integrated mixed-use campus combining serviced residences, premium offices, retail spaces and a private club. The project is expected to generate total sales potential of about Rs 20 billion along with an estimated annuity rental inc..

Real Estate

09 Mar 2026

Hindware Introduces Starc Smart Wall Mount Toilet

Hindware has introduced the Starc Smart Wall-Mount Toilet under its Hindware Italian Collection, designed to combine automation, hygiene and contemporary bathroom aesthetics. The model features automatic flushing, sensor-based seat opening and closing, and remote-controlled functions. It also includes an oscillating water spray and warm air dryer for cleaning, along with a self-cleaning nozzle designed to maintain hygiene. Additional features include adjustable heated seating, customisable water temperature and pressure settings, a foot-touch flush system and an LCD control interface. The wa..