In an exciting development on Tuesday, Tata Power Limited revealed plans to invest Rs 1,572 crore to acquire a 40% stake in a brand-new special purpose vehicle (SPV). What’s the SPV for? To set up the mighty 1,125 MW Dorjilung hydro power project in Bhutan! This huge project will cost a whopping Rs 13,100 crore and will be a joint effort between Tata Power and Bhutan’s Druk Green Power Corporation Limited (DGPC). The exact details about the purchase are set to unfold in one or more steps, with a shareholders agreement soon to be signed between the two power giants. Tata Power made it clear in a regulatory filing that while the SPV is not yet formed, once the deal is sealed, the SPV will become an associate company and a related party of Tata Power. And guess what? This acquisition doesn’t fall under Tata Power’s related party transactions. Why is this a big deal? Tata Power said, "This project will support the company to accelerate its clean and green energy transition." It’s a huge step in their journey toward more clean and renewable energy. There’s more good news! On the same day, Tata Power announced the construction start of another Bhutan hydro project—the 600 MW Khorlochhu Hydro Project. Tata Power owns 40% of this venture too, which is part of an impressive 5 GW clean energy partnership. The Khorlochhu project has already tied up a loan agreement worth Rs 4,829 crore with Power Finance Corporation (PFC). Praveer Sinha, Tata Power's CEO and MD, shared his excitement during the Q2 FY26 results announcement: "Tata Power is very well positioned to expand further with 10 GW of clean capacity under construction including a healthy pipeline of 5 GW Hybrid and FDRE projects." He also highlighted that their solar manufacturing factories are working at full steam. Looking ahead, he said, "With proposed amendments to the Electricity Act, Tata Power is well positioned to expand its distribution footprint to 40 million consumers by 2030." In short, Tata Power is charging ahead full throttle in the clean energy race with mega projects in Bhutan and a strong plan for growth at home. The future looks bright and green!