Thimphu, May 8 : The Adani Group and the Druk Green Power Corporation (DGPC) of Bhutan have signed a landmark Memorandum of Understanding (MoU) to jointly develop 5,000 MW of hydropower projects in Bhutan.

The MoU was signed here by DGPC's MD Dasho Chhewang Rinzin and Adani Green Hydro Ltd's COO, PSP & Hydro, Naresh Telgu, in the presence of Prime Minister Dasho Tshering Tobgay, Minister for Energy and Natural Resources Lyonpo Gem Tshering and other senior dignitaries.

This MoU builds on the ongoing partnership for the 570/900 MW Wangchhu Hydropower Project, in which the DGPC will hold a majority 51 per cent stake and the Adani Group will hold 49 per cent. The broader 5,000 MW initiative will encompass additional hydropower and pumped storage projects to be identified, Detailed Project Reports prepared, and taken forward for implementation in phases.

"This partnership reflects our deep commitment to developing clean energy infrastructure that enhances regional energy security," Adani Green Hydro Ltd's COO, PSP & Hydro, Telgu said. "Together with the 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."

"This strategic partnership with Adani will further strengthen our very strong engagement with the Government of India in harnessing Bhutan's abundant hydropower resources, which is considered the cornerstone of the exemplary and friendly relations between our two countries," DGPC MD Rinzin said. "We look forward to taking this partnership forward with Adani and learning from their huge successes across the globe."

The DGPC, Bhutan's premier hydropower developer, has decades of experience in managing the nation's renewable energy resources. It plays a pivotal role in Bhutan's clean energy journey, contributing to both domestic energy security and sustainable development. Through such partnerships, the DGPC is also helping to strengthen Bhutan's position in regional energy cooperation.

The Adani Group, India's leading infrastructure and renewable energy player, brings extensive expertise in project development, financing, and market access. It will support Bhutan in scaling up its hydropower capacity and facilitating access to Indian energy markets.

As part of this collaboration, the Adani Group will ensure reliable power offtake and integration with India's commercial power markets, further reinforcing Bhutan's role in the regional energy trade. The partnership is strongly backed by both the Bhutan and Indian governments, underscoring a shared vision for clean energy growth and economic integration.

This initiative also aligns with Bhutan's Renewable Energy Roadmap, which aims to achieve an 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, the DGPC and the Adani Group also initialled the Shareholders' Agreement for the Wangchhu Project, marking significant progress in their collaborative efforts to advance Bhutan's hydropower sector.

/IANS