Reliance and Druk join for 1,270 MW Bhutan renewable energy projects

08 Oct 2024 CW Team

The deal was formalised with the signing ceremony attended by Harmanjit Singh Nagi, President (Corporate Development) of Reliance Power Ltd., and Ujjwal Deep Dahal, CEO, Druk Holding, in the presence of Anil Ambani. The collaboration aims to bolster Bhutan’s renewable energy infrastructure, supporting the country’s journey towards its net-zero targets.

As part of the agreement, Reliance Group will first work with Druk Holding to establish a 500 MW solar power plant in Gelephu Mindfulness City, to be executed in two phases of 250 MW each. This solar facility will be the largest of its kind in Bhutan. Land for the project has been allocated, and joint teams, including external consultants, are currently conducting technical studies and site assessments.

Additionally, the partnership will focus on developing the 770 MW Chamkharchhu-1 hydroelectric project, a run-of-the-river facility that will significantly expand Bhutan’s current installed power capacity of 2,452 MW. The project symbolizes a rare collaboration between a Bhutanese state-owned entity and a private Indian company, reinforcing Bhutan’s green energy ambitions.

To support these initiatives, Reliance Group announced the creation of a new flagship entity, Reliance Enterprises, which will spearhead investments in Bhutan’s renewable energy sector. Jointly promoted by Reliance Infrastructure Ltd. and Reliance Power Ltd., the new company will focus on sustainable energy solutions and smart distribution systems, aligning with Bhutan’s Gross National Happiness Index, which values economic progress alongside citizen well-being. (ET)

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Anil Ambani-led Reliance Group has entered into a strategic partnership with Bhutan’s Druk Holding and Investments Ltd. (DHI) to develop a total of 1,270 MW of renewable energy projects, focusing on solar and hydropower. This agreement marks the largest foreign direct investment (FDI) by an Indian company in Bhutan’s green energy sector. The deal was formalised with the signing ceremony attended by Harmanjit Singh Nagi, President (Corporate Development) of Reliance Power Ltd., and Ujjwal Deep Dahal, CEO, Druk Holding, in the presence of Anil Ambani. The collaboration aims to bolster Bhutan’s renewable energy infrastructure, supporting the country’s journey towards its net-zero targets. As part of the agreement, Reliance Group will first work with Druk Holding to establish a 500 MW solar power plant in Gelephu Mindfulness City, to be executed in two phases of 250 MW each. This solar facility will be the largest of its kind in Bhutan. Land for the project has been allocated, and joint teams, including external consultants, are currently conducting technical studies and site assessments. Additionally, the partnership will focus on developing the 770 MW Chamkharchhu-1 hydroelectric project, a run-of-the-river facility that will significantly expand Bhutan’s current installed power capacity of 2,452 MW. The project symbolizes a rare collaboration between a Bhutanese state-owned entity and a private Indian company, reinforcing Bhutan’s green energy ambitions. To support these initiatives, Reliance Group announced the creation of a new flagship entity, Reliance Enterprises, which will spearhead investments in Bhutan’s renewable energy sector. Jointly promoted by Reliance Infrastructure Ltd. and Reliance Power Ltd., the new company will focus on sustainable energy solutions and smart distribution systems, aligning with Bhutan’s Gross National Happiness Index, which values economic progress alongside citizen well-being. (ET)

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