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Adani Power on Saturday said it has inked a pact with Bhutan’s state-owned utility Druk Green Power to set up a 570MW hydro project entailing investment of Rs 6,000 crore, in the Himalayan Kingdom.
IMAGE: Adani Power and Bhutan’s state-owned Druk Green Power Corp sign the Shareholders Agreement, in the presence of Adani Group Chairman Gautam Adani and Bhutan’s Prime Minister Dasho Tshering Tobgay in New Delhi on Saturday. Photograph: ANI Photo
As per the pact, Adani Power and Druk Green Power Corp Ltd (DGPC), will initiate the the peaking run-of-river Wangchhu hydroelectric project on a BOOT (Build, Own, Operate, Transfer) model.
A power purchase agreement and a concession agreement were signed in this regard in the presence of Prime Minister of Bhutan, Dasho Tshering Tobgay and Gautam Adani, Chairman, Adani Group, a company statement said.
The Wangchhu project will see an investment of about Rs 6,000 crore in setting up the power plant and related infrastructures.
With the detailed project report already completed, construction work is expected to begin by the first half of 2026, and the completion is targeted within five years of groundbreaking.
“The Wangchhu hydroelectric project will critically meet Bhutan’s peak winter demand, when hydro power generation is low.
“During the summer months, it would export power to India,” said SB Khyalia, CEO, Adani Power.
The Wangchhu is the first hydroelectric project to be taken up under an MoU signed in May 2025 between Adani Group and DGPC for jointly developing 5,000 MW of hydropower in Bhutan.
Adani Group and DGPC are engaged in further discussions for future projects under this strategic partnership.
Adani Power is the largest private thermal power producer in India.
DGPC is the sole generation utility of Bhutan with a current generation portfolio of a little over 2,500 MW and growing fast with Bhutan’s aspirations to achieve 25,000 MW in generation capacity by 2040.
Druk Holding & Investments, the commercial arm of the Royal Government of Bhutan, is DGPC’s shareholder.
Established in 2008 to take a lead role in developing Bhutan’s hydropower resources, it has recently diversified beyond hydropower into tapping solar resources also.
