Gautam Adani, Chairman of the Adani Group, has reaffirmed the company’s commitment to strengthening its partnership with Bhutan, which is based on sustainability, trust, and long-term value. In a social media post, Adani expressed his delight at returning to Bhutan and praised the country’s commitment to mindful and sustainable development. He specifically highlighted the energy partnership between the Adani Group and Bhutan, which has made significant progress in recent months.
In May last year, the Adani Group signed a Memorandum of Understanding (MoU) with Druk Green Power Corporation (DGPC) to jointly develop 5,000 MW of hydropower projects in Bhutan. The MoU builds on the ongoing partnership for the 570/900 MW Wangchhu Hydropower Project, in which DGPC will hold a majority 51% stake and the Adani Group will hold 49%. Adani stated that the signing of the MoU represented a deepening of the group’s partnership with Bhutan.
The Adani Group has also made progress on the Wangchhu Hydro Electricity Project, with the official commencement of the 570 MW project. The company has signed a shareholders agreement (SHA) with DGPC to set up the project, as well as an in-principle understanding on the power purchase agreement (PPA) and a concession agreement (CA) with the Royal Government of Bhutan. The project will see an investment of around Rs 60 billion and will be implemented on a Build, Own, Operate, Transfer (BOOT) model.
Adani praised the visionary initiative of Bhutan’s King Jigme Khesar Namgyel Wangchuck and thanked Prime Minister Dasho Tshering Tobgay for his presence at the ceremony marking the occasion. He emphasized that the Adani Group will continue to strengthen its partnership with Bhutan, which is rooted in sustainability, trust, and long-term value. The partnership is expected to contribute to Bhutan’s commitment to sustainable development and reduce its reliance on non-renewable energy sources.
The Adani Group’s investment in Bhutan’s hydropower sector is a significant step towards promoting sustainable development and reducing carbon emissions. The company’s commitment to sustainability and long-term value is expected to have a positive impact on the environment and the local community. With the progress made on the Wangchhu Hydro Electricity Project, the Adani Group is poised to play a significant role in Bhutan’s energy sector and contribute to the country’s economic growth and development.