New Delhi, May 5 -- In a major boost to regional clean energy cooperation, Bhutan and the World Bank on Tuesday signed financing agreements worth USD 515 million for the Dorjilung Hydropower Project Ltd (DHPL), a flagship initiative being jointly developed by Tata Power and Druk Green Power Corporation.

The 1,125 MW project, structured as a public-private partnership (PPP), will be Bhutan's largest hydropower venture once operational. DHPL is a special purpose vehicle with 60% ownership held by Druk Green Power Corporation and 40% by Tata Power.

Strategically significant for both nations, the project is expected to generate nearly 4,500 GWh of electricity annually. Around 80% of this output will be exported to India, helping meet rising...