Guwahati: The Adani Group has solidified its partnership with Bhutan in the hydropower sector, signing a Memorandum of Understanding (MoU) with Druk Green Power Corporation (DGPC) to jointly develop 5,000 MW of hydropower projects.
The agreement, inked in Thimphu, signifies a major step towards Bhutan’s ambitious renewable energy goals.
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DGPC’s Managing Director, Dasho Chhewang Rinzin, and Adani Green Hydro Ltd’s COO (PSP & Hydro), Naresh Telgu, formalized the pact in the presence of Bhutan’s Prime Minister Dasho Tshering Tobgay, Minister for Energy and Natural Resources Lyonpo Gem Tshering, and other dignitaries.
Following the signing on Thursday, Adani Group Chairman Gautam Adani expressed his gratitude to Bhutan Prime Minister Tshering Tobgay via a post on X.
He stated, “Honoured to deepen our partnership with Bhutan. We are committed to a greener and more prosperous future. Thank you @PMBhutan @tsheringtobgay for your trust and vision.”
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Under the terms of the MoU, Adani will play a crucial role in ensuring reliable power offtake and seamless integration with India’s commercial power markets. This collaboration is expected to significantly bolster Bhutan’s position in the regional energy trade.
The initiative enjoys strong backing from both the Royal Government of Bhutan and the Government of India, highlighting a shared commitment to clean energy development and enhanced economic ties.
This new agreement builds upon the existing collaboration between DGPC and Adani for the 570/900 MW Wangchhu Hydropower Project, where DGPC holds a majority stake of 51 percent, and Adani possesses 49 percent.
The expansive 5,000 MW initiative will encompass the identification of additional hydropower and pumped storage projects, the preparation of detailed project reports, and their phased implementation.
This strategic move aligns perfectly with Bhutan’s Renewable Energy Roadmap, which aims to achieve an impressive additional 20,000 MW of generation capacity by 2040.
The roadmap prioritizes diversifying Bhutan’s energy mix to include solar and geothermal sources, while also fostering strategic partnerships to attract crucial investment and drive innovation.
In a parallel development, DGPC and Adani also initialed the Shareholders’ Agreement for the Wangchhu Project. This marks substantial progress in their joint efforts to advance Bhutan’s vital hydropower sector.
DGPC, Bhutan’s leading hydropower developer, brings decades of invaluable experience in managing the nation’s renewable energy resources.
The corporation plays a pivotal role in Bhutan’s clean energy transition, contributing significantly to both domestic energy security and sustainable development. Through strategic alliances like this one with Adani, DGPC is instrumental in strengthening Bhutan’s influence in regional energy cooperation.
The Adani Group, an infrastructure and renewable energy conglomerate in India, offers its extensive expertise in project development, financing, and market access.
The group’s involvement is poised to support Bhutan in scaling up its hydropower capacity and facilitating access to the dynamic Indian energy markets.
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