India’s electricity demand is among the fastest growing in the world. Total electricity consumption was 1,210 TWh in 2017, with a demand growth of 6.5 per cent per year.  Statkraft has extensive industrial experience in hydropower in India, with a 49 per cent shareholding in two hydropower assets in operation in Himachal Pradesh: Malana (108 MW/340 GWh) and Allain Duhangan (192 MW/800 GWh). Recently Statkraft has also gained experience in solar and direct sales to business customers.

The Tidong hydropower project is located on Tidong River, a tributary of Sutlej River, in Himachal Pradesh (HP). The planned installed capacity is 100 MW, although there is a possibility for further expansion that will be evaluated. The acquisition is in line with Statkraft’s strategy to develop renewable energy generation, building on Statkraft’s more than 120 years of hydropower experience.

“This investment is a sign of Statkraft’s commitment to the Indian power sector. We are excited by the prospects of this very dynamic and fast growing market and this acquisition places us in a very good position to tap the many opportunities present here,” said Bredo Erichsen, Managing Director and Country Head of Statkraft India. The Tidong project was approximately 60 per cent completed when Statkraft acquired it. Construction works was resumed immediately after the closing of the transaction. The remaining construction works are expected to be completed in approximately two years.

In the construction phase, special attention has been given to health and safety measures. The Tidong project management team, where most of the key resources have experience from recent Statkraft construction projects, is handpicked to manage this risk, and have strengthened the project organization with additional HSE expertise.

During the winter the project has progressed well and now all construction are up to speed.