Druk Green Power Corporation Limited (DGPC) and PTC India Limited (PTC) signed a Memorandum of Understanding (MoU) on May 23, 2025 in Thimphu, marking a significant step toward the joint development of hydropower projects in Bhutan.
The MoU, signed by Dasho Chhewang Rinzin, Managing Director of DGPC, and Mr. Harish Saran, Director of Marketing & Business Development at PTC, establishes a framework for collaboration between the two entities for the creation of a Special Purpose Vehicle (SPV) in Bhutan to implement a hydropower project, to be identified jointly by the parties.
The signing ceremony was graced by the Hon’ble Minister of Energy and Natural Resources (MoENR), Lyonpo Gem Tshering as the Chief Guest. The event was also attended by the Deputy Chief of Mission of the Embassy of India, and other senior officers from the MoENR, Ministry of Finance, Druk Holding and Investments Limited (DHI), Electricity Regulatory Authority (ERA), Bhutan Power System Operator (BPSO), and the managements of DGPC and PTC.
The MoU strengthens the longstanding energy trading relationship between DGPC and PTC, that has seamlessly enabled the export of surplus electricity from Bhutan to India over the last 25 years and the recent import of power from India to Bhutan during the lean winter months.
Speaking at the ceremony, Dasho Chhewang Rinzin highlighted that the MoU marks a new dimension in DGPC’s collaboration with PTC in developing hydropower projects in Bhutan and it also marks a significant milestone in Bhutan’s journey towards energy security and sustainability. Mr. Harish Saran emphasized PTC’s commitment to the long-term collaboration with Bhutan in the renewable energy sector.
Hon’ble Minister Lyonpo Gem Tshering commended the partnership as a strategic move that reflects Bhutan’s vision for a robust, clean energy future and deepening regional cooperation. This is one of the initiatives towards fulfilling the additional 20,000 MW in generation capacity by 2040 as envisioned in the Renewable Energy Roadmap.
This MoU sets the foundation for enhanced Bhutan-India energy collaboration, and reinforces DGPC’s commitment to building expertise and capacity in Bhutan’s hydropower sector through such meaningful partnerships.
