The Adani Group and Bhutan's Druk Green Power Corp. have inked a memorandum of understanding to jointly develop 5,000 MW of hydropower projects in the Himalayan country.
The pact was signed in Thimphu by DGPC's Managing Director Dasho Chhewang Rinzin and Adani Green Hydro Ltd.'s Chief Operating Officer (PSP & Hydro) Naresh Telgu in the presence of Bhutanese Prime Minister Dasho Tshering Tobgay, a release said.
The partnership is aimed at unlocking Bhutan's hydropower potential and boosting regional energy security, it added.
"Honoured to deepen our partnership with Bhutan. We are committed to a greener and more prosperous future," Adani Group Chairman Gautam Adani said.
Honoured to deepen our partnership with Bhutan. We are committed to a greener and more prosperous future. Thank you @PMBhutan @tsheringtobgay for your trust and vision. 🙏 https://t.co/u6X2x5a8GN
Under the pact, 5,000 MW of clean energy capacity is planned through joint development of hydropower and pumped storage projects. The MoU reinforces India-Bhutan energy cooperation and supports Bhutan's 2040 Renewable Energy Roadmap, the release said.
The MoU builds on the ongoing partnership for the 570/900 MW Wangchhu Hydropower Project, in which DGPC will hold a majority 51% stake and Adani will hold 49%. The broader 5,000 MW initiative will encompass additional hydropower and pumped storage projects which will be taken forward for implementation in phases.
"This partnership reflects our deep commitment to developing clean energy infrastructure that enhances regional energy security," said Telgu.
"Together with DGPC, we are enabling Bhutan to harness its hydropower potential and export reliable green energy to India. This is a powerful example of cross-border collaboration in pursuit of shared sustainable development goals," the top Adani Green Hydro official added.
The partnership will strengthen Bhutan's strong engagement with the Government of India in harnessing the country's abundant hydropower resources, Rinzin said.
"We look forward to taking this partnership forward with Adani and learning from their huge successes across the globe," the DGPC MD added.
As part of this collaboration, Adani will ensure reliable power offtake and integration with India's commercial power markets, "further reinforcing Bhutan's role in the regional energy trade", the release stated.
The partnership is strongly backed by the Royal Government of Bhutan and the Government of India, underscoring a "shared vision for clean energy growth and economic integration", it further said.
This initiative also aligns with Bhutan's Renewable Energy Roadmap, which aims to achieve and 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.
In a further milestone, DGPC and Adani also "initialled the shareholders' agreement for the Wangchhu Project", marking significant progress in their collaborative efforts to advance Bhutan's hydropower sector, the release added.
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