ICRA

THDC India Limited, a leading Power Sector PSU, has also established a benchmark in Green Hydrogen production, by successfully implementing India's one of the first pilot project aligned with the "National Green Hydrogen Mission" on the auspicious occasion of 75th Republic Day. 

The project developed at the office complex in Rishikesh, has been inaugurated by THDC's Chairman and Managing Director (CMD) R. K. Vishnoi in the presence of THDC's Director, Shallinder Singh and Bhupender Gupta along with all other senior officers of THDC.

THDC dedicates India's largest Green Hydrogen pilot project

Reliance Power has inked an agreement to sell its 1,200 MW Kalai II hydroelectric project in Arunachal Pradesh for Rs 128.39 crore to THDC India. The purpose of entering into the agreement was to monetise the hydroelectric power project.

Under the pact, there will transfer of the development rights and associated physical assets, studies, clearances, designs and intellectual properties of the proposed 1,200 MW Kalai-II hydroelectric project located at the Lohit river basin of Arunachal Pradesh to THDC for an aggregate consideration of Rs 128.39 crore, subject to certain indemnities, representations and covenants, it stated.

Reliance Power to sell 1,200 MW Kalai II Hydropower Project in Arunachal to THDC India

The company has exposure to weak/moderate discoms, such as Uttar Pradesh, Jammu & Kashmir and Uttarakhand.

The execution of large projects exposes the company to both funding and implementation risk.

Project implementation is a challenge due to legal, regulatory issues, evacuation and difficulties in financing. Moreover, difficult terrain, geological and climatic risks for construction and operation has been a challenge.

The issuer has made timely interest payments.

Shri R. K. Vishnoi, Chairman and MD

For off-take of the power, THDC has entered into long-term PPA for the entire Tehri Hydro Power Complex, of 2,400 MW with various beneficiary states.

The tariff for each of the large hydro power stations of THDC is determined, by referring to Annual Fixed Cost.

The capital structure of the company is comfortable as depicted by the overall gearing of 0.80x as on March 31, 2022.

Linkage with NTPC is symbiotic as THDC is likely to gain from NTPC’s experience towards implementation of thermal project and better receivables management.

8.75%THDC India Limited 06 Sep 2029

ISIN:

INE812V07021

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THDC India Limited

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THDC dedicates India's largest Green Hydrogen pilot project

Reliance Power to sell 1,200 MW Kalai II Hydropower Project in Arunachal to THDC India

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