New Delhi — Adani Group Chairman Gautam Adani on Thursday welcomed the signing of a major agreement to jointly develop 5,000 MW of hydropower projects in Bhutan, calling it a milestone that strengthens the group’s partnership with the Himalayan nation.
“Was honoured to deepen our partnership with Bhutan. We are committed to a greener and more prosperous future. Thank you PM Bhutan Tshering Tobgay for your trust and vision,” Adani wrote on X.
The Memorandum of Understanding (MoU) was signed in Thimphu between Bhutan’s Druk Green Power Corporation (DGPC) and Adani Green Hydro Ltd, with Bhutanese Prime Minister Tshering Tobgay and other senior officials in attendance. The agreement expands upon their collaboration on the 570/900 MW Wangchhu Hydropower Project, in which DGPC holds a 51 percent stake and the Adani Group 49 percent.
Prime Minister Tobgay expressed satisfaction with the progress of the Wangchhu joint venture and said he was “delighted” that the two entities had agreed to jointly develop an additional 5,000 MW of hydropower in Bhutan. “Grateful to my friend Gautam Adani,” he added.
The larger initiative includes both hydropower and pumped storage projects that will be identified, studied, and executed in phases. The partnership is backed by both the Bhutanese and Indian governments and underscores a shared commitment to clean energy and regional economic integration.
DGPC Managing Director Dasho Chhewang Rinzin said the alliance with Adani will further bolster Bhutan’s energy cooperation with India. “Hydropower is the cornerstone of our relationship with India. This partnership allows us to leverage Adani’s global experience in project development, finance, and energy market access,” Rinzin said.
The companies also signed a Shareholders’ Agreement for the Wangchhu project, marking a key step in their ongoing collaboration.
As India’s leading infrastructure and renewable energy firm, the Adani Group will play a key role in scaling Bhutan’s hydropower capacity and integrating its output with Indian commercial power markets. This supports Bhutan’s broader Renewable Energy Roadmap, which aims to add 20,000 MW of generation capacity by 2040 through diversified energy sources like solar and geothermal, alongside strategic partnerships.
The DGPC, Bhutan’s premier hydropower agency, continues to be instrumental in advancing the country’s renewable energy ambitions and strengthening its role in regional energy cooperation. (Source: IANS)
