State-run hydro power giant NHPC has emerged as the successful bidder for insolvency-bound Jal Power Corporation’s 120MW Rangit project in Sikkim with a bid of Rs 165 crore.
NHPC is hopeful of completing the project in three-and-a-half years after the approval of Cabinet Committee of Economic Affairs (CCEA).
The company would also have to get approvals of Public Investment Board and CCEA thereafter.
The project envisages installation of three units of 40 megawatts each.