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NHPC Takes Over Lanco Teesta Hydro Power Fully
Webdesk, TNI Mumbai 14th December, 2021: The merger/amalgamation of Lanco Teesta Hydro Power Ltd. was finalized and has been accorded by the Board of Directors of NHPC Limited last week i.e. on December 7, 2021. Till date the Lanco Teesta Hydro Power Limited, is a wholly owned subsidiary of NHPC Limited. In accordance with the NHPC sources the scheme may be filed by the Ministry of Corporate Affairs, Government of India or any other appropriate authority for their approval and sanction. This will be done as per the regulatory filings. As already informed the Transferor Company is a Wholly Owned Subsidiary Company of NHPC and are related parties. According to the business experts, this merger of Lanco Teesta Hydro Power Ltd. with the parent company NHPC Ltd. will enable access to debt funding at NHPC’s credit rating whereas Lanco Teesta Hydro Power Ltd., on its own, will incur debt financing at a higher rate. Higher interest cost, would adversely impact the tariff of the Teesta-VI HE project being developed by Lanco Teesta Hydro Power Ltd.