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Tata Power and Norway's SN Power to Invest $3 Billion in Indian and Nepalese Hydropower Ventures

Researched by Industrial Info Resources (Sugar Land, Texas)--Tata Power Company Limited (BSE:500400) (Mumbai) has agreed with renewables utility firm SN Power (Oslo, Norway) to jointly execute hydropower ventures in India and Nepal. The projects will be developed at an investment of $3 billion during a period of five to eight years between 2014 and 2017. The stakeholders are aiming to initiate about 2,000 megawatts (MW) of clean energy ventures that are expected to be operational or under construction by 2015, with another 2,000 MW being planned for development in the following five years. In all, about 4,000 MW of renewable power generation is being targeted by 2020.

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