JSW Neo Energy Ltd (JSWNEL), a subsidiary of JSW Energy, has signed an agreement with the Druk Green Power Corporation Ltd (DGPC) of Bhutan to jointly develop the 920 Megawatt (MW) Punatsangchhu-III Hydroelectric Project.
The project is located on the Punatsangchhu River in the Wangdue Phodrang District of Bhutan.
The development will be executed through a Joint Venture (JV) company on a Build-Own-Operate-Transfer (BOOT) basis.
Under the agreement, DGPC will hold a 51% stake in the JV, while JSWNEL will hold the remaining 49% stake.