Ahmedabad (Gujarat) [India], May 8 : The Adani Group and the Druk Green Power Corporation (DGPC) of Bhutan have signed a landmark Memorandum of Understanding (MoU) to develop 5,000 MW of hydropower projects in Bhutan jointly.
The MoU was signed in Thimphu by DGPC's MD Dasho Chhewang Rinzin and Adani Green Hydro Ltd's COO (PSP & Hydro) Naresh Telgu in the presence of the Prime Minister Dasho Tshering Tobgay, Minister for Energy and Natural Resources Lyonpo Gem Tshering and other dignitaries.
The MoU builds on the ongoing partnership for the 570/900 MW Wangchhu Hydropower Project, in which DGPC will hold a majority 51 per cent stake and Adani will hold 49 per cent.
The broader 5,000 MW initiative will encompass additional hydropower and pumped storage projects to be identified, Detailed Project Reports prepared, and taken forward for implementation in phases.
"This partnership reflects our deep commitment to developing clean energy infrastructure that enhances regional energy security," said Naresh Telgu, COO (PSP & Hydro), Adani Green Hydro Ltd.
Together with DGPC, he said they 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," he said.
Dasho Chhewang Rinzin, MD DGPC said that the strategic partnership with Adani will further strengthen their 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," he said.
DGPC is Bhutan's premier hydropower developer, has decades of experience in managing the nation's renewable energy resources. It plays a pivotal role in Bhutan's clean energy journey, contributing to both domestic energy security and sustainable development. Through such partnerships, DGPC is also helping to strengthen Bhutan's position in regional energy cooperation.
The Adani Group, India's leading infrastructure and renewable energy player which brings its extensive expertise in project development, financing, and market access. It will support Bhutan in scaling up its hydropower capacity and facilitating access to Indian energy markets.
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 strongly backed by the Royal Government of Bhutan and the Government of India, underscoring a shared vision for clean energy growth and economic integration.
This initiative also aligns with Bhutan's Renewable Energy Roadmap, which aims to achieve and additional 20,000 MW of generation capacity by 2040.
The roadmap prioritises diversification into solar and geothermal energy, and also encourages strategic partnerships to attract investment and innovation.
In a further milestone, DGPC and Adani also initialled the Shareholders' Agreement for the Wangchhu Project, marking significant progress in their collaborative efforts to advance Bhutan's hydropower sector.