The strategic partnership between Druk Green Power Corporation Limited (DGPC) and Adani Power Limited to jointly identify, develop, and invest in up to 5,000 MW of hydropower capacity in Bhutan was reinforced through the signing of a Memorandum of Understanding (MoU) on 3 January 2026 in the Kuenrey Hall of Tashichhodzong, Thimphu in the august presence of His Majesty The King of Bhutan.
The MoU was signed between Dasho Chhewang Rinzin, Managing Director of DGPC and Mr. Anil Sardana, Managing Director of Adani Power Limited. The MoU establishes a long-term framework for collaboration between DGPC and Adani Power to develop multiple hydropower projects spanning across the country through mutually agreed equity participation, and aligned to Bhutan’s energy policies, regulatory frameworks, and sustainable development goals.
Following the signing of the MoU, Dasho Tshering Tobgay, the Prime Minister of Bhutan and Mr. Gautam Adani, Chairman of the Adani Group laid the foundation stone for the 570 MW Wangchhu hydroelectric project, the first project to be taken forward under the 5,000 MW understanding between DGPC and Adani Power.
Senior officials of the Royal Government of Bhutan and the Gelephu Mindfulness City, representative of the Embassy of India, representatives of the Druk Holding & Investments, and senior executives from DGPC and the Adani Group witnessed the MoU signing and the foundation stone laying ceremony.
In a significant milestone marking the commencement of construction activities, a ground breaking ceremony was carried out at the 570 MW Wangchhu power house site. The ground breaking ceremony was witnessed by the Prime Minister of Bhutan and the Chairman of the Adani Group through a live drone feed from the site.
Location of the Project
The Wangchhu hydroelectric project is located downstream of the Tala Hydropower Plant under Chhukha Dzongkhag. The project is being developed as a joint venture, with DGPC holding a majority 51% equity stake and Adani Power holding the balance 49%. The Concession and Shareholders Agreements for the Wangchhu project were signed in September 2025.
About the Project
On the sidelines of the MoU signing and laying of the foundation stone, DGPC and Adani Power held an extra-ordinary general meeting and a board meeting to formalize the appointment of the Board Directors and the Chief Executive Officer for the Wangchhu joint venture company. The company decided to initiate equity injection and expedite the implementation of the project. The newly appointed CEO was directed to immediately proceed with the construction of the infrastructure works.
The 570 MW Wangchhu and the overall 5,000 MW understanding between DGPC and Adani Power is part of the energy sector’s overall mandate to develop an additional 20,000 MW in generation capacity by 2040. By combining DGPC’s institutional strength, technical expertise, and many years of operational experience with Adani Group’s capabilities in large-scale infrastructure development, financing, and power market integration, the collaboration advances Bhutan’s objectives on energy security, environmental stewardship, and climate resilience, and energy as an enabler of other investments.
Both DGPC and Adani expressed satisfaction at the progress being made with the start of the construction of the 570 MW Wangchhu project and agreed to start working on the other projects under the 5,000 MW understanding expeditiously.
