DGPC and Hira Power & Steel Limited Sign MoU to Explore Solar Power Development in Bhutan

Thimphu, Bhutan – 19 August 2026: Druk Green Power Corporation Limited (DGPC) and Hira Power & Steel Limited (HPSL), India signed a Memorandum of Understanding (MoU) to explore opportunities for the joint development of solar power project(s) in Bhutan.

The MoU establishes a framework for the parties to explore potential collaboration in the development of solar power projects, building on HPSL’s earlier submission of an Expression of Interest (EoI) to DGPC for the development of a 500 MW Solar PV project in Bhutan.

Under the MoU, DGPC and HPSL will jointly explore opportunities for developing solar projects in Bhutan, including assessing potential areas of collaboration and the feasibility of prospective projects. The partnership reflects HPSL’s strong interest in investing in Bhutan’s renewable energy sector and DGPC’s efforts to expand and diversify the country’s renewable energy portfolio.

The collaboration marks another step towards strengthening renewable energy cooperation between Bhutan and India and supports Bhutan’s broader efforts to harness its renewable energy potential. The proposed collaboration also aligns with DGPC’s growing focus on solar energy as a key component of its strategy to diversify Bhutan’s clean energy generation portfolio.

About Druk Green Power Corporation Limited

Druk Green Power Corporation Limited (DGPC) is Bhutan’s largest power utility and a subsidiary of Druk Holding and Investments Limited. DGPC is mandated to develop, own and operate hydropower and renewable energy projects and plays a key role in Bhutan’s energy sector and economic development. While hydropower remains at the core of its operations, DGPC is increasingly expanding into solar and other renewable energy sources to support Bhutan’s long-term energy security and clean energy ambitions.

About Hira Power & Steel Limited

HPSL is a pioneer in the manganese alloys industry; producing High, Medium and Low Carbon Ferro Manganese across various grades. The company operates manufacturing facilities in Raipur and Vizag, India. With its growing interest in renewable energy development, HPSL’s proposed collaboration with DGPC represents an opportunity to leverage its investment interest and capabilities in support of Bhutan’s emerging solar energy sector.