Adani Power, India’s largest private power producer, saw its shares jump over 4% following the announcement of a strategic partnership with Bhutan’s Druk Green Power Corporation (DGPC) to develop the 570 MW Wangchhu hydroelectric project in Bhutan. As of 9:46 AM, the shares were trading 4.26% higher at Rs 635.65.
The two companies signed a Shareholders Agreement and an in-principle Power Purchase Agreement (PPA), while also finalizing the Concession Agreement with the Royal Government of Bhutan. The signing ceremony was attended by Bhutan’s Prime Minister Dasho Tshering Tobgay and Gautam Adani, Chairman of the Adani Group, highlighting the significance of this cross-border energy collaboration.
The Wangchhu hydro project will be developed under a Build, Own, Operate, Transfer (BOOT) model, with an estimated investment of around INR 60 billion. With the detailed project report already prepared, construction is slated to begin in the first half of 2026, and the plant is expected to be operational within five years. This peaking run-of-river project will boost Bhutan’s renewable energy capacity while contributing to India’s clean energy supply.
This initiative marks the first project under a May 2025 Memorandum of Understanding (MoU) between the Adani Group and DGPC to jointly develop 5,000 MW of hydropower capacity in Bhutan. Both companies are also exploring additional projects that could position Bhutan as a key hub for renewable energy in the region, supporting India’s growing demand for sustainable power.
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