Daijiworld Media Network – New Delhi

New Delhi, Sep 6: India’s largest private power producer, Adani Power Ltd, and Bhutan’s state-owned Druk Green Power Corporation (DGPC) have signed key agreements to develop the 570 MW Wangchhu Hydroelectric Project, marking a major milestone in regional energy cooperation.

The shareholders agreement, initial understanding on the Power Purchase Agreement, and the Concession Agreement with the Royal Government of Bhutan were signed in the presence of Bhutanese Prime Minister Dasho Tshering Tobgay and Adani Group Chairman Gautam Adani. The peaking run-of-river hydro project will follow a BOOT (Build, Own, Operate, Transfer) model with an investment of around Rs 6,000 crore. Construction is expected to begin by mid-2026, with completion within five years.

Adani Power CEO SB Khyalia highlighted the project’s role in meeting Bhutan’s winter peak demand and exporting surplus power to India in summer. DGPC Managing Director Dasho Chhewang Rinzin emphasised the decades-long energy cooperation between India and Bhutan and Bhutan’s ambitions to add 15,000 MW of hydropower and 5,000 MW of solar capacity by 2040.

The Wangchhu project is the first initiative under the May 2025 MoU between Adani Group and DGPC to jointly develop 5,000 MW of hydropower, with further collaborations already under discussion.