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News Topical, Digital Desk : Adani Power, a company of the Adani Group, said in a notice to the exchange on Saturday that the company has signed an agreement with Druk Green Power, a company owned by the Bhutan government, to develop a 570 MW hydroelectric project in Bhutan. The company said that Druk Green Power Corp. Ltd. (DGPC) has signed a shareholder agreement (SHA) for the 570 MW Wangchhu hydroelectric project.
The company also said that the developers have signed a Concession Agreement (CA) with the Government of Bhutan for this project. The project is part of the government's plan to add 15000 MW of additional hydropower and 5000 MW of solar generation capacity by 2040.
Investment of Rs 6000 crore The Wangchu project will entail an investment of about Rs 6000 crore for setting up a renewable energy power plant and related infrastructure. The company said that the project will start in the first half of 2026 and is expected to be completed within 5 years. Adani Power CEO SB Khyalia said, "The Wangchu Hydroelectric Project will specifically meet Bhutan's peak winter demand, when hydropower generation is low. It will export electricity to India in the summer months." The company's stock closed at Rs 610.30 on Friday with a gain of 0.26 per cent. In the last one year, the company's stock has seen a decline of 3.84 percent.
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