The World Bank Group has approved an 815 million US dollar financing package to support the construction of the 1,125-megawatt Dorjilung Hydropower Project. Considered one of the largest hydropower projects in the country, it is expected to be commissioned by 2032.
The financing package comprises grants and loans from institutions of the World Bank Group.
The International Development Association will provide a grant of 150 million US dollars, along with an additional 150 million US dollars in credit.
The International Bank for Reconstruction and Development will extend a loan of 215 million US dollars, while the International Finance Corporation will contribute 300 million US dollars.
According to the Dorjiling Hydropower, the World Bank Group will be the lead multilateral financier, offering both concessional financing and technical support.
The total project cost is estimated at 1.7 billion US dollars. Tata Power holds a 40 per cent stake in the joint venture, while Druk Green Power Corporation owns the remaining 60 per cent.
Construction of preliminary infrastructure, including access roads and bridges, began last year.
Major construction works are expected to commence this year.
Sangay Chozom
