The Adani Group has entered a significant partnership with Bhutan’s Druk Green Power Corporation (DGPC) to jointly develop 5,000 MW of hydropower projects in Bhutan. A Memorandum of Understanding (MoU) was signed in Thimphu by DGPC’s Managing Director, Dasho Chhewang Rinzin, and Adani Green Hydro Ltd’s Chief Operating Officer, Naresh Telgu, in the presence of key figures, including Bhutan’s Prime Minister Dasho Tshering Tobgay and Energy Minister Lyonpo Gem Tshering.
Expanding Existing Partnership
This new MoU expands on their current collaboration on the Wangchhu Hydropower Project, which includes a 570/900 MW project. Under this agreement, DGPC will hold a 51% majority stake, while Adani will hold 49%. The 5,000 MW initiative will involve several additional hydropower and pumped storage projects, which will be identified and implemented in phases with detailed project reports.
Commitment to Clean Energy and Regional Cooperation
Naresh Telgu emphasized the importance of this partnership in promoting clean energy infrastructure, enhancing energy security, and facilitating cross-border energy trade. By collaborating with DGPC, Adani aims to help Bhutan maximize its hydropower potential and provide green energy to India, reinforcing regional sustainable development goals.
Strengthening Bhutan-India Relations
Dasho Chhewang Rinzin highlighted the strategic nature of the partnership, underscoring the strong engagement between Bhutan and India. The MoU is seen as a continuation of the longstanding friendly relations between the two nations, particularly in utilizing Bhutan’s vast hydropower resources for mutual benefit.
Experience and Expertise in Hydropower Development
DGPC, with decades of experience as Bhutan’s leading hydropower developer, plays a vital role in the country’s renewable energy landscape. It has been central to Bhutan’s energy security and sustainable development, while its collaboration with Adani strengthens Bhutan’s regional energy cooperation.
Adani, a leader in infrastructure and renewable energy in India, brings essential expertise in project development, financing, and market access. The company will help Bhutan expand its hydropower capacity and connect to the Indian energy markets, ensuring reliable power offtake and integration.
Supporting Bhutan’s Renewable Energy Roadmap
This collaboration aligns with Bhutan’s Renewable Energy Roadmap, which aims to increase its energy generation capacity by an additional 20,000 MW by 2040. The roadmap also focuses on diversifying energy sources, including solar and geothermal, and attracting investment through strategic partnerships.
Progress on Wangchhu Project
Additionally, DGPC and Adani have taken significant steps forward with the Shareholders’ Agreement for the Wangchhu Hydropower Project, marking continued progress in Bhutan’s hydropower sector development.
This partnership not only strengthens the energy trade between India and Bhutan but also promotes clean energy growth, regional economic integration, and sustainable development in both countries.
