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German utilities take 49% stake in Maheshwar project

Bayernwerk Group and VEW Energie, two leading German utility companies are expected to take a 49% stake in the 400MW Maheshwar hydro project in India, according to developers S Kumars company and Shree Maheshwar Hydel power Corporation Limited (SMHPCL). The plant, under construction on the Narmada river has been widely opposed by local people (see last issue).

According to a press statement from SMHPCL, this is the first time that investments from German utilities will come into the hydro power sector in India. Bayernwerk, one of the largest producers of power in Germany, operates in over 100 hydro and other power stations. VEW Energie generates power in its own hydro, hard coal, nuclear and natural gas plants.