Gautam Adani thanks Bhutan PM on signing of MoU to develop hydropower projects in Bhutan – The Tribune-OxBig News Network

Ahmedabad (Gujarat) [India], May 8 (ANI): Chairman of Adani Group, Gautam Adani, on Thursday, thanked Prime Minister of Tshering Tobgay after Adani Group and the Druk Green Power Corporation (DGPC) of Bhutan signed a landmark Memorandum of Understanding (MoU) to develop 5,000 MW of hydropower projects in Bhutan jointly.

In a post on X, Chairman of Adani Group, Gautam Adani said, “Honoured to deepen our partnership with Bhutan. We are committed to a greener and more prosperous future. Thank you @PMBhutan @tsheringtobgay for your trust and vision.”

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.

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.

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 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.

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. (ANI)

(The story has come from a syndicated feed and has not been edited by the Tribune Staff.)