New Delhi, May 8 Adani Group Chairman Gautam Adani on Thursday said the signing of the MoU to jointly develop 5,000 MW of hydropower projects in Bhutan represented a deepening of the group’s partnership with the Himalayan country.
He also thanked Bhutan Prime Minister Tshering Tobgay for reposing his trust in the Adani Group.
"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", Gautam Adani posted on X.
The Bhutan Prime Minister, on his part, said that he was "delighted that that Druk Green Power Corporation and Adani Power have made significant progress on the Wangchhu hydropower JV project, and that they have signed an MoU Druk Green Power Corporation (DGPC) of Bhutan to jointly develop 5,000 MW of additional hydropower in Bhutan".
"Grateful to my friend Gautam Adani," Prime Minister Tobgay remarked.
The partnership is strongly backed by both the Bhutan and Indian governments, underscoring a shared vision for clean energy growth and economic integration.
The MoU, signed in Bhutan 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 Tobgay, Minister for Energy and Natural Resources Lyonpo Gem Tshering and other senior dignitaries, 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 the Adani Group 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 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," said DGPC's MD Rinzin. "We look forward to taking this partnership forward with Adani and learning from their huge successes across the globe."
In a further milestone, the DGPC and the Adani Group also initialled the Shareholders’ Agreement for the Wangchhu Project, marking significant progress in their collaborative efforts to advance Bhutan’s hydropower sector.
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, the group will ensure reliable power offtake and integration with India’s commercial power markets, further reinforcing Bhutan’s role in the regional energy trade.
This initiative also aligns with Bhutan’s Renewable Energy Roadmap, which aims to achieve an 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.
The 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, the DGPC is also helping to strengthen Bhutan’s position in regional energy cooperation.
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