India hydro developer National Hydroelectric Power Corporation of India, Jammu & Kashmir State Power Development Corporation and PTC India have incorporated a joint venture company to develop three hydropower projects with a combined capacity of 2,120 MW in Jammu and Kashmir.
The new entity, Chenab Valley Power Projects Pvt Ltd , was incorporated on June 13., wire services reported.
In December last year, Jammu & Kashmir State Power Development Corp, NHPC and PTC India had inked a promoter's agreement for setting up the new entity.
Under the terms of the JV, NHPC and JKSPDC will each hold a 49 percent stake in the company, with PTCI holding the remaining 2 percent.
In 2010, NHPC commenced commercial operations of all three units of the 120-MW Sewa II hydropower project in Jammu and Kashmir.
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