Indian renewables company the Adani Group has signed a memorandum of understanding with the Druk Green Power Corporation of Bhutan for the joint development of 5GW of hydropower projects.
DGPC’s managing director Dasho Chhewang Rinzin and Adani Green Hydro Ltd’s chief operating officer Naresh Telgu signed the agreement in Thiumphu.
Several dignitaries witnessed the signing, including Prime Minister Dasho Tshering Tobgay and Minister for Energy and Natural Resources Lyonpo Gem Tshering.
The strategic partnership aims to unlock Bhutan’s hydropower potential and boost regional energy security.
In total, 5GW of clean energy capacity is being planned through the joint development of hydropower and pumped storage projects.
This MoU builds on the ongoing partnership for the 570MW Wangchu hydropower project, in which DGPC will hold a majority 51% stake and Adani will hold 49%.
The broader 5GW initiative will encompass additional hydropower and pumped storage projects to be identified.
Detailed project reports will be prepared and taken forward for implementation in phases.
Telgu said: “This partnership 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 is a powerful example of cross-border collaboration in pursuit of shared sustainable development goals.”
Rinzin added: “This strategic partnership with Adani will further strengthen our very strong engagement with the Government of India in harnessing Bhutan’s abundant hydropower resources, which is considered as the cornerstone of the exemplary and friendly relations between our two countries.
“We look forward to taking this partnership forward with Adani and learning from their huge successes across the globe.”
As part of this collaboration, Adani will ensure reliable power offtake and integration with India’s commercial power markets, further reinforcing Bhutan’s role in the regional energy trade.
The partnership is backed by the Royal Government of Bhutan and the Government of India.
This initiative also aligns with Bhutan’s Renewable Energy Roadmap, which aims to achieve an additional 20GW of generation capacity by 2040.