GE Energy Financial Services India has invested Rs. 257 Crores in the hydro-power project through a share subscription agreement.
Gati Infrastructure Private Limited -an energy initiative of Mahendra Agarwal, Founder and CEO of – Gati Limited, India’s pioneer and leader in Express Distribution and Supply Chain Solution is helping to alleviate India's enormous electricity shortage with its first and largest hydro-power project in the private sector, in the north east of India.
GE Energy Financial Services India has invested Rs. 257 Crores in the hydro-power project through a share subscription agreement. The 110 megawatt Chuzachen hydro-electric project in East Sikkim harnesses the water flow from the rivers Rangpo and Rongli, in a run-of-river design, with turbines and generators supplied by Alstom India Ltd . The project built at a cost of Rs. 1188 Crores is the first one of this magnitude, under Private Ownership, in the north east of India. IDFC is the lead financier, with a loan at the project level. Capital Fortunes Private Limited - Hyderabad are the advisors and sole arrangers in respect of this transaction. Commissioned in May of this year, the project is operating at steady state .
Mahendra Agarwal, promoter of Gati Infrastructure , explained why the company chose the snowy , rainy northeastern state of Sikkim as the hydro-power project's location “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.”
Gati Infrastructure Private Limited -an energy initiative of Mahendra Agarwal, Founder and CEO of – Gati Limited, India’s pioneer and leader in Express Distribution and Supply Chain Solution is helping to alleviate India's enormous electricity shortage with its first and largest hydro-power project in the private sector, in the north east of India.
GE Energy Financial Services India has invested Rs. 257 Crores in the hydro-power project through a share subscription agreement. The 110 megawatt Chuzachen hydro-electric project in East Sikkim harnesses the water flow from the rivers Rangpo and Rongli, in a run-of-river design, with turbines and generators supplied by Alstom India Ltd . The project built at a cost of Rs. 1188 Crores is the first one of this magnitude, under Private Ownership, in the north east of India. IDFC is the lead financier, with a loan at the project level. Capital Fortunes Private Limited - Hyderabad are the advisors and sole arrangers in respect of this transaction. Commissioned in May of this year, the project is operating at steady state .
Mahendra Agarwal, promoter of Gati Infrastructure , explained why the company chose the snowy , rainy northeastern state of Sikkim as the hydro-power project's location “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.”
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