The Adani Group and the Druk Green Power Corp. (DGPC) of Bhutan have signed a landmark Memorandum of Understanding (MoU) to jointly develop 5000 MW of hydropower projects in Bhutan.
This strategic MoU is a significant expansion of their existing collaboration on the 570/900 MW Wangchhu hydropower project, where DGPC maintains a majority 51% stake compared to Adani’s 49%. The broader initiative aims to identify, prepare detailed project reports, and implement additional hydropower and pumped storage projects in a phased manner, showcasing a commitment to sustainable energy development.
Naresh Telgu, COO (PSP & Hydro) of Adani Green Hydro Ltd, articulated the ethos of this partnership, stating, “This reflects our deep commitment to developing clean energy infrastructure that enhances regional energy security. Together with DGPC, we are enabling Bhutan to harness its hydropower potential and export reliable green energy to India.” This collaboration exemplifies cross-border cooperation with a shared aim for sustainable development goals.
According to Dasho Chhewang Rinzin, Managing Director of DGPC, “This strategic partnership with Adani will further strengthen our very strong engagement with the Government of India in harnessing Bhutan’s abundant hydropower resources.” Rinzin emphasized that this partnership is foundational to the exemplary relations between Bhutan and India, highlighting a strong commitment to leveraging experiences for mutual growth.
As Bhutan’s premier hydropower developer, DGPC has decades of expertise in managing renewable energy resources, playing a vital role in the nation’s clean energy landscape. The entity’s efforts contribute significantly to both domestic energy security and sustainable development, reinforcing Bhutan’s status in regional energy cooperation.
The Adani Group, recognized as India’s leading infrastructure and renewable energy player, contributes extensive capabilities in project development, financing, and market access. This synergy will not only enhance Bhutan’s hydropower capacity but also facilitate smoother access to Indian energy markets, ensuring reliable power offtake and integration. This focus on market alignment emphasizes Bhutan’s significant role in regional energy trade.
This initiative is congruent with Bhutan’s Renewable Energy Roadmap, which aspires to achieve an additional 20,000 MW of generation capacity by 2040. The roadmap prioritizes diversifying energy sources into solar and geothermal sectors and encourages strategic collaborations to attract investments and innovations, illustrating a comprehensive vision for the future of energy in Bhutan.
In a notable progression of their collaboration, DGPC and Adani have also initialed the Shareholders’ Agreement for the Wangchhu Project. This marks a concrete step forward in advancing Bhutan’s hydropower sector, strengthening the foundational ties between the two organizations as they move towards realizing their shared objectives.
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