GANGTOK: The Sikkim government has entered into a strategic joint-venture with ATPIL to run the Sikkim Power Development Corporation (SPDC).

The SPDC is now being operated by ATPIL, the company which has also floated Teesta Urja which is developing the 1,200 MW Teesta Stage-III hydroelectric project at Chungthang, North Sikkim.

The state continues to hold majority equity in the corporation as it has offloaded 49 per cent equity to ATPIL which was selected from among the best performing private hydel developers in the State.

Official sources said this decision was taken by the state government to infuse professionalism and expertise into the corporation.

For the selection of the strategic joint venture partner, tenders were floated on the basis of which ATPIL was selected to take 49 per cent of the stake in SPDC, the sources said.

The SPDC is now in charge of developing only mini HEPs in the state, with a few already under development and all under 5 MW capacity.