The MoU, which was signed on 8 May in Thimphu by DGPC’s managing director Dasho Chhewang Rinzin and Adani Green Hydro’s Chief Operating Officer Naresh Telgu, paves the way for the expansion of the ongoing partnership between the two entities, which includes the planned 570 to 900 MW Wangchhu hydropower project, for which an MoU was signed in August 2024. The initiative will encompass the identification, preparation of Detailed Project Reports and implementation in phases of additional hydropower and pumped storage projects, according to a press statement.
“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” said DGPC’s Rinzin
“This partnership reflects our deep commitment to developing clean energy infrastructure that enhances regional energy security,” said Telgu of Adani Green Hydro. “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.”
This initiative aligns with Bhutan’s Renewable Energy Roadmap, which aims to achieve and additional 20 000 MW of generation capacity by 2040. The roadmap prioritizes diversification into solar and geothermal energy, and also encourages strategic partnerships to attract investment and innovation.
In addition to helping Bhutan scale up its hydropower capacity, the Adani Group, one of India’s leading infrastructure and renewable energy player, will support Bhutan in 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.
In a further milestone, DGPC said it had initialled a Shareholders’ Agreement with Adani for the Wangchhu project, according to which DGPC will hold a majority 51 per cent stake and Adani will hold 49 per cent. The project has two potential configurations – a 570 MW run-of-river scheme or a 900 MW reservoir scheme. Both options are under consideration, with detailed project reports already completed. The two parties are finalizing project parameters and implementation modalities.
