New Delhi: Adani Power, India’s leading private power producer, and Druk Green Power Corp. Ltd. (DGPC), Bhutan’s state-owned generation utility, today signed the Shareholders Agreement (SHA) for setting up a 770 MW Chamkharchhu-I Hydroelectric Project in the Kingdom of Bhutan.
The signing ceremony was graced by Prime Minister of Bhutan, Lyonchen Dasho Tshering Tobgay, and attended by Minister of Finance and the Minister of Energy and 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 Adani Group and DGPC in May 2025.
The peaking run-of-river project is located in central Bhutan’s Zhemgang District and on the Chamkarchhu River and the project will be implemented under the Build, Own, Operate and Transfer (BOOT) model through a 49:51 equity partnership between Adani Power and DGPC 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, particularly during the winter months, while creating opportunities to optimise 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, efficient project delivery. We look forward to working closely with Adani Power to realise this important project and to advancing further opportunities under the broader hydropower development partnership,” said Dasho Chhewang Rinzin, MD, DGPC.
Both organizations remain actively engaged in evaluating additional hydropower opportunities under the broader 5,000 MW development programme.
