Tangsibji Hydro Energy Limited (THyE) is a 100% subsidiary company of Druk Green Power corporation Limited which was incorporated on April 25,2014 as a special Purpose Vehicle(SPV) for the implementation of the 118MW Nikachhu Hydropower Project. The Project is estimated to cost Nu.11.96 billion.

Nikachhu Hydropower Project is a run-of-the-river scheme project located in Tangsibji Gewog,Trongsa.The Dam site is located in Lorim which is 6km downstream of the Chendibji chorten.A design discharge of 25.45m3/s is diverted through 4 m finished diameter Head Race Tunnel which is 11,998.50 m long and hits two pelton turbine in  the Power House generating as installed capacity of 118MW.The water is then discharged into the reservior of Mangdechhu Hydropower Project . The project will generate mean annual generation of 491.52 GWh from Nikachhu Power House and 323.77 GWh additional generation by Mangdechhu Power House on account of Nikachhu water. The construction period is 48 months. The project is being funded by ADB at debt equity ratio of 65:35.

The Contract Agreement of Main Contract Package, MP-1 (Civil & Hydro-Mechanical Works) was signed between M/s Hindustan Construction Company Limited, India and THyE on April 20, 2016 for contract amount of INR 4.288 billion and Euro 3.827 million. Similarly, the Contract Agreement for Main Contract Package, MP-2 (Electro-Mechanical Works) was signed between M/s Voith Hydro Private Limited, India and THyE on December 30, 2015 for contract amount of USD 23.773 million. The project construction duration is for period of 48 months from signing of contract agreement for MP-1 Contract Package.

As on July 31, 2021, the overall progress of 118 MW Nikachhu Hydropower Project stand at 71. 43%.