Adani Group inks pact to develop 5,000 MW hydropower projects in Bhutan

New Delhi, May 8 (PTI) Gautam Adani-led Adani Group has signed an agreement with Druk Green Power Corporation (DGPC) of Bhutan to jointly develop hydropower projects totalling 5,000 MW capacity in the neighbouring country.

The agreement 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 senior dignitaries, Adani Group said in a statement.

Adani Group and the Druk Green Power Corporation (DGPC) of Bhutan signed the Memorandum of Understanding (MoU) to jointly develop 5,000 MW of hydropower projects in Bhutan, it said.

This MoU builds on the ongoing partnership for the Wangchhu Hydropower Project, in which DGPC will hold a majority 51 per cent stake and Adani will own 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. 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," said Naresh Telgu, COO (PSP & Hydro), Adani Green Hydro Ltd.

Dasho Chhewang Rinzin, MD, DGPC, said "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." Headquartered in Ahmedabad, the diversified Adani Group has significant presence in logistics (seaports, airports, shipping and rail), resources, power generation and distribution, renewable energy, gas and infrastructure, agro (commodities, edible oil, food products, cold storage and grain silos), real estate, public transport infrastructure, consumer finance, defence, and other sectors.

DGPC, Bhutan's premier hydropower developer, has decades of experience in managing the nation's renewable energy resources. PTI ABI HVA