Thimphu/Ahmedabad : Adani Power Ltd. and Druk Green Power Corporation Ltd. (DGPC), Bhutan’s state-owned power generation utility, have signed a Shareholders Agreement (SHA) to develop the 770 MW Chamkharchhu-I Hydroelectric Project in Bhutan.
The signing ceremony was graced by Hon’ble Prime Minister of Bhutan, Lyonchen Dasho Tshering Tobgay, and attended by the Hon’ble Minister of Finance, the Hon’ble Minister of Energy and Natural Resources, along with representatives of Druk Holding & Investments Limited (DHI), Bhutan Power Corporation Limited (BPC), the DGPC Board and management, and Adani Power.
The project represents the second major hydropower collaboration between Adani Power and DGPC, following the agreement for the 570 MW Wangchhu Hydroelectric Project signed in September 2025. It is also part of the broader 5,000 MW hydropower development partnership between the Adani Group and DGPC under the Memorandum of Understanding signed in May 2025.
770 MW Project to Strengthen Bhutan’s Clean Energy Capacity
The peaking run-of-river project will be developed on the Chamkharchhu River in Zhemgang District, central Bhutan, under the Build, Own, Operate and Transfer (BOOT) model. Adani Power and DGPC will hold a 49:51 equity partnership, respectively. The project will have a 30-year concession from the Commercial Operation Date (COD).
Construction is expected to commence in the first half of 2027, with commissioning targeted within six years of groundbreaking. The project is expected to strengthen Bhutan’s clean energy generation capacity and support greater regional energy cooperation. It is also intended to help address Bhutan’s peak winter electricity requirements, while enabling the export of surplus green power to India during the summer months.
Commenting on the development, Anil Sardana, Managing Director, Adani Power Ltd., said, “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.”
He added that the project is expected to support Bhutan’s winter power requirements while enabling surplus green power exports to India during the summer, creating long-term value for both countries.
Dasho Chhewang Rinzin, Managing Director, DGPC, said the partnership marks another significant milestone in Bhutan’s hydropower development journey and strengthens the long-standing energy partnership between Bhutan and India. He highlighted the project’s role in strengthening Bhutan’s energy security during winter and creating opportunities to optimise and export surplus clean energy to India. He also emphasised the importance of strong partnerships and responsible project delivery in developing Bhutan’s renewable energy resources.
Part of Broader 5,000 MW Hydropower Programme
Both organisations continue to evaluate additional hydropower opportunities under the broader 5,000 MW development programme, reinforcing their commitment to expanding clean energy cooperation between Bhutan and India.