- Strategic partnership to unlock Bhutan’s hydropower potential and boost regional energy
security
- 5,000 MW of clean energy capacity planned through joint development of hydropower and pumped
storage projects
- MoU reinforces India-Bhutan energy cooperation and supports Bhutan’s 2040 Renewable Energy
Roadmap
Thimphu, 8 May 2025: The Adani Group and the Druk Green Power Corporation (DGPC)
of Bhutan have signed a landmark Memorandum of Understanding (MoU) to jointly develop 5,000 MW
of hydropower projects in Bhutan.
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 Hon’ble Prime Minister Dasho
Tshering Tobgay,
Minister for Energy and Natural Resources Lyonpo Gem Tshering and other senior
dignitaries.
This MoU builds on the ongoing partnership for the 570/900 MW Wangchhu Hydropower
Project, in
which DGPC will hold a majority 51% stake and Adani will hold 49%. 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, 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 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 Dasho Chhewang Rinzin, MD DGPC. “We look forward to taking
this partnership forward with Adani and learning from their huge successes across the
globe.”
DGPC, 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, brings 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.
