Sikkim Power Development Corporation Limited (SPDCL) is a Government of Sikkim owned enterprise with its headquarters located in Gangtok. The corporation was formed with the objective to develop the hydroelectric potential in Sikkim as well as carry the business of transmission, distribution and sale of electricity. The Corporation was formed in 1998-99 with an authorized share capital of Rs 500 Cr. and was fully owned by the Govt. of Sikkim at that time. SPDCL also used to assist various IPPs for development of project above 25 MW in the State of Sikkim. At a later stage in 2005, the rights to develop 15 hydro power projects (totaling around 75 to 80 MW), with some of them under construction, were transferred from the the Power Department, GoS to SPDCL. Till date, SPDCL has commissioned 13 MW of these hydro power plants.
However, during the year 2010-11, a decision was made to involve a strategic investor with an aim to bring more efficiency and resources for the development of this Corporation. Accordingly, M/s Athena Projects Private Ltd was selected as the strategic partner in the Corporation holding 49% of the Equity while 51% remained with the Government of Sikkim after the restructuring.