Druk Green Power and Adani Power and to set up the 770 MW Chamkharchhu-I Hydroelectric Project in Bhutan
• 51:49 equity partnership between Druk Green Power and Adani Power
• Project to be delivered within six years of ground-breaking
• Part of the larger 5,000 MW hydropower development strategic partnership between the Royal Government of Bhutan and Adani Group
Thimphu/ Ahmedabad, October 5, 2026: Druk Green Power Corp. Ltd. (DGPC), Bhutan’s state-owned generation utility and Adani Power, India’s leading private power producer, today signed the Shareholders Agreement (SHA) for setting up the 770 MW Chamkharchhu-I Hydroelectric Project in Bhutan.
The signing ceremony was graced by the Hon’ble Prime Minister of Bhutan, Lyonchen Dasho Tshering Tobgay, and attended by the Hon’ble Minister of Finance and the Hon’ble Minister of Energy & Natural Resources, along with representatives from Druk Holding & Investments Limited (DHI), Bhutan Power Corporation Limited (BPC), the DGPC Board, DGPC Management, and Adani Power.
The project marks the second major hydropower collaboration between the two partners following the 570 MW Wangchhu Hydroelectric Project agreement signed in September 2025, and forms part of the broader 5,000 MW hydropower development Memorandum of Understanding (MoU) signed between the DGPC and Adani Group in May 2025.
The peaking run-of-river project is located in central Bhutan’s Zhemgang District and on the Chamkharchhu river. The project will be implemented under the Build, Own, Operate and Transfer (BOOT) model through a 51:49 equity partnership between DGPC and Adani Power with a concession of 30 years from COD. The project will strengthen Bhutan’s clean energy generation capacity and enhance regional energy cooperation, with construction expected to commence in the first half of 2027 and commissioning targeted for six years from groundbreaking.
“We are delighted to strengthen our partnership with the Royal Government of Bhutan and DGPC through the Chamkharchhu Hydroelectric Project. Hydropower will play a pivotal role in accelerating South Asia’s energy transition, and this project will contribute significantly to enhancing energy security, reducing carbon intensity, and advancing shared sustainability goals. While the project is expected to help meet Bhutan’s peak winter electricity requirements, it will also enable the export of surplus green power to India during the summer months, creating long-term value for both nations,” said Anil Sardana, Managing Director, Adani Power Ltd.
“This partnership marks another significant milestone in Bhutan’s hydropower development journey and further strengthens the long-standing energy partnership between Bhutan and India. The 770 MW Chamkharchhu-I hydropower project will contribute to strengthening Bhutan’s energy security, especially during the winter months, while creating opportunities to optimize and export surplus clean energy to India. Beyond the project itself, this collaboration reflects our shared commitment to developing Bhutan’s renewable energy resources through strong partnerships, and responsible and efficient project delivery. We look forward to working closely with the Adani Power to realize this important project and to advancing the other opportunities under the broader hydropower development partnership. The strategic partnerships with the Indian private sector like the Adani Group was being made possible with the support of the Government of India; especially in encouraging investments in Bhutan’s energy sector, and giving access to Indian energy markets for sale of summer surplus generation from these power plants and giving access to financing from the Indian financial markets” said Dasho Chhewang Rinzin, MD, DGPC.
Both organizations remain actively engaged in evaluating additional hydropower opportunities under the broader 5,000 MW development programme.
About Druk Green Power Corporation Limited
Druk Green Power Corporation Limited (DGPC) is Bhutan’s leading renewable energy generation company and a wholly owned subsidiary of Druk Holding & Investments Limited, the commercial arm of the Royal Government of Bhutan. With a generation portfolio of over 3,500 MW, DGPC is at the forefront of Bhutan’s ambition to expand its renewable energy capacity to 25,000 MW by 2040. Established in 2008, DGPC has built extensive expertise across the energy value chain, particularly in hydropower development and operations, and is now expanding into solar and other renewable energy opportunities. Through strategic partnerships, innovation and sustainable project development, DGPC is working to harness Bhutan’s renewable energy potential while strengthening energy security and enabling greater regional energy cooperation.
About Adani Power Limited
Adani Power (APL), a part of the Adani portfolio, is the largest private thermal power producer in India. The Company has an installed thermal power capacity of 18,290 MW spread across 14 power plants in Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh, Madhya Pradesh, Jharkhand, and Tamil Nadu, apart from a 40 MW solar power plant in Gujarat. With the help of a world-class team of experts in every field of power, Adani Power is on course to achieve its growth potential. The company is harnessing technology and innovation to transform India into a power-surplus nation and provide quality and affordable electricity for all.
For media queries, contact:
roy.paul@adani.com
dgpc.info@drukgreen.bt
