NHPC’s board approves merger of Teesta VI hydro power project
21st Oct 2020

NHPC’s board has approved the proposal to initiate the process of merger / amalgamation of Lanco Teesta Hydro Power into the company under Section 232 of the Companies Act, 2013 subject to approval of Government of India. The Board of Directors of the company in its meeting held on October 20, 2020 has approved the same.

The NHPC had bagged the 500 MW Teesta VI hydropower project under the corporate insolvency resolution process. The project will supply power at a levelised tariff of Rs 4.07 per unit and is likely to be completed in the next four years. Earlier, the Hyderabad bench of the National Company Law Tribunal (NCLT) had approved the resolution plan of NHPC on July 26, 2019, for debt-ridden Lanco Teesta.

NHPC is India's premier hydropower company.