In a significant development for regional energy cooperation, Bhutan’s Druk Green Power Corporation (DGPC) and India’s Adani Group have signed a memorandum of understanding (MoU) to jointly develop 5,000 megawatts (MW) of hydropower projects in Bhutan. The MoU was formalised in a ceremony held in Thimphu, where DGPC Managing Director Dasho Chhewang Rinzin and Adani Green Hydro Ltd’s Chief Operating Officer (PSP & Hydro), Naresh Telgu, signed the agreement. The signing was witnessed by Bhutan’s Prime Minister Dasho Tshering Tobgay, Minister for Energy and Natural Resources Lyonpo Gem Tshering, and other senior dignitaries.

The partnership marks a major step forward in strengthening bilateral energy ties between Bhutan and India. It builds upon the existing collaboration between the two entities on the Wangchhu Hydropower Project, which has a planned capacity of 570/900 MW. Under the Wangchhu project, DGPC holds a majority stake of 51%, while Adani holds a 49% share. The newly signed MoU paves the way for expanding this partnership, covering additional hydropower and pumped storage projects that will be identified, studied, and developed in phases.

Naresh Telgu of Adani Green Hydro emphasised the strategic importance of this agreement, stating, “This partnership reflects our deep commitment to developing clean energy infrastructure that enhances regional energy security.” He also noted that Adani’s role would ensure reliable power offtake and integration with Indian energy markets, which would further solidify Bhutan’s position as a key player in the regional energy trade.

Dasho Chhewang Rinzin, MD of DGPC, highlighted the significance of the collaboration in the broader context of Bhutan-India relations. “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 the cornerstone of the exemplary and friendly relations between our two countries,” Rinzin said. He added that DGPC looks forward to advancing this partnership and learning from Adani’s vast international experience in clean energy development.

As part of this milestone, the two organisations also initialled the Shareholders’ Agreement for the Wangchhu Project, marking substantial progress in Bhutan’s hydropower sector. This development aligns closely with Bhutan’s Renewable Energy Roadmap, which targets an ambitious addition of 20,000 MW of generation capacity by 2040.

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The Adani Group currently operates 17.55 gigawatts (GW) of installed capacity and has set an aggressive goal to increase this figure to 30.67 GW by 2030, making it the largest capacity expansion in India’s private sector. In the public sector, state-owned NTPC is planning to add 30 GW of thermal power capacity by 2032, in addition to its earlier target of 26 GW.

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