New Delhi, May 5 -- The Bhutan government and the World Bank on Tuesday signed financing agreements worth $515 million for the 1,125 megawatt Dorjilung Hydroelectric Power Project being developed by a joint venture between India's largest private sector power company, Tata Power Co. Ltd, and Bhutan's state-run Druk Green Power Corp. Ltd.

The project in eastern Bhutan, once completed, is set to generate 4,500 gigawatt-hours (GWh) of clean electricity every year, with 80% of this to be exported to India during the peak summer season, the World Bank said in a statement.

The project, a key part of Bhutan's 13th five-year plan, will be the country's largest hydropower project developed under a public-private partnership, and this investment ...