Adani Power Ltd.ADANIPOWER₹633.85 +3.96%

Adani Power Ltd. and Druk Green Power Corporation Ltd. (DGPC), Bhutan’s state-owned generation utility, have signed a shareholders’ agreement to set up a 570 MW hydroelectric project at Wangchhu, Bhutan.

The agreement paves the way for the incorporation of a new project company in Bhutan, with APL holding 49% and DGPC 51%. The project will be developed under a BOOT (Build, Own, Operate, Transfer) model, with an estimated investment of ₹60 billion.

Construction is expected to begin in the first half of 2026, with completion targeted within five years of groundbreaking. The project is designed to meet Bhutan’s peak winter power demand while exporting surplus electricity to India during the summer.

Speaking on the occasion, SB Khyalia, CEO of Adani Power, said: “Bhutan is a role model for sustainable development, and we are excited to play a leading role in harnessing its natural resources through this renewable energy project.”

Dasho Chhewang Rinzin, MD of DGPC, highlighted that hydropower cooperation has long been the cornerstone of Bhutan-India ties and said the partnership with Adani would help fast-track implementation.

This is the first hydroelectric project to be taken up under a May 2025 MoU between Adani Group and DGPC for jointly developing 5,000 MW of hydropower in Bhutan.

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