Adani Power, recognized as India's leading private power producer, has partnered with Druk Green Power Corp. Ltd. (DGPC), the state-owned utility of Bhutan, to formalize a Shareholders Agreement (SHA) for the establishment of a 570 MW hydroelectric project in Bhutan's Himalayan region. Additionally, an initial agreement regarding the Power Purchase Agreement (PPA) was also signed. Crucially, the developers executed the Concession Agreement (CA) with the Royal Government of Bhutan for this venture.

These agreements were signed in the presence of Bhutan's Hon’ble Prime Minister, Dasho Tshering Tobgay, and Mr. Gautam Adani, Chairman of the Adani Group, marking a significant step towards the implementation of the Wangchhu hydroelectric project, which will operate under a BOOT (Build, Own, Operate, Transfer) model.

The Wangchhu project is set to attract an investment of approximately INR 60 billion for the construction of the renewable energy facility and its associated infrastructure. With the detailed project report already finalized, construction is anticipated to commence in the first half of 2026, aiming for completion within five years of the start date.

Mr. SB Khyalia, CEO of Adani Power, expressed enthusiasm about the project, stating, “Bhutan serves as a global model for sustainable development, and we are eager to contribute significantly to the utilization of the country's natural resources through this renewable energy initiative. The Wangchhu hydroelectric project will be vital in addressing Bhutan’s peak winter energy demands when hydro power generation is at its lowest. In the summer, it will facilitate power exports to India.”

Furthermore, Dasho Chhewang Rinzin, MD of DGPC, highlighted the long-standing collaboration between Bhutan and India in harnessing hydropower since the 1960s, which has greatly benefited both nations. He noted that as Bhutan aims to become a High Income GNH (Gross National Happiness) Country within the next decade, reliable and affordable electricity from renewable sources will be essential for driving economic growth. Bhutan plans to add 15,000 MW in hydropower and 5,000 MW in solar capacity by 2040, and DGPC is pleased to partner with the Adani Group for the Wangchhu project, which is expected to set a benchmark for future initiatives.

The Wangchhu project is the first initiative under a Memorandum of Understanding (MoU) signed in May 2025 between the Adani Group and DGPC, aimed at jointly developing 5,000 MW of hydropower in Bhutan. Ongoing discussions are underway for additional projects under this strategic alliance.

Adani Power (APL) is a key player in the Adani portfolio and stands as the largest private thermal power producer in India. The company boasts an installed thermal power capacity of 18,110 MW across twelve power plants located in various states including Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh, Madhya Pradesh, Jharkhand, and Tamil Nadu, along with a 40 MW solar power facility in Gujarat. With a team of experts dedicated to every aspect of power generation, Adani Power is committed to transforming India into a power-surplus nation while ensuring quality and affordable electricity for all.

DGPC serves as Bhutan's sole generation utility, currently managing a generation portfolio exceeding 2,500 MW, with ambitions to reach 25,000 MW by 2040. As a subsidiary of Druk Holding & Investments, the commercial arm of the Royal Government of Bhutan, DGPC was established in 2008 to spearhead the development of Bhutan’s hydropower resources. Recently, it has expanded its focus to include solar energy. Over the years, DGPC has built expertise in the water-to-wire energy sector, establishing centers of excellence in critical areas and enhancing its research and development capabilities.