New Delhi: Adani Power has signed an agreement with Bhutan’s state-owned utility, Druk Green Power Corporation (DGPC), to develop a 570 MW hydroelectric project in the Himalayan kingdom, involving an investment of around Rs 6,000 crore.
The Wangchhu hydroelectric project will be executed on a BOOT (Build, Own, Operate, Transfer) model, with both companies signing a power purchase agreement and a concession agreement in the presence of Bhutan’s Prime Minister Dasho Tshering Tobgay and Adani Group Chairman Gautam Adani.
Construction is expected to commence by the first half of 2026, following the completion of the detailed project report, with a targeted completion within five years. The project aims to meet Bhutan’s peak winter power demand, while surplus energy during the summer months will be exported to India, said SB Khyalia, CEO of Adani Power.
The Wangchhu project is the first initiative under a Memorandum of Understanding signed in May 2025 between Adani Group and DGPC to jointly develop 5,000 MW of hydropower in Bhutan. Discussions for additional future projects under this partnership are ongoing.
Adani Power is India’s largest private thermal power producer. DGPC, Bhutan’s sole power generation utility, currently has a capacity of over 2,500 MW and plans to expand to 25,000 MW by 2040. Druk Holding & Investments, the commercial arm of Bhutan’s government, holds a stake in DGPC.
