Adani Power, Bhutan utility sign pact for 770MW hydropower project
The project will supply power to Bhutan during winter and allow surplus to be exported to India in summer.
India's Adani Power has signed a shareholders' agreement with Bhutan's state-owned Druk Green Power Corporation (DGPC) to develop the 770MW Chamkharchhu-I Hydroelectric Project in Bhutan.
The agreement was signed today (6 October), according to a statement from Adani Power.
The project marks the second major hydropower collaboration between the two companies, following the agreement for the 570MW Wangchhu Hydroelectric Project in September 2025.
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It is also part of the broader 5,000MW hydropower development memorandum of understanding signed between the Adani Group and DGPC in May 2025.
The peaking run-of-river project will be located on the Chamkarchhu River in central Bhutan's Zhemgang district. Construction is expected to begin in the first half of 2027, with commissioning targeted within six years of groundbreaking.
The project will be developed through a 49:51 equity partnership, with Adani Power holding 49% and DGPC 51%.
It will be implemented under the Build, Own, Operate and Transfer (BOOT) model, with a 30-year concession from the date of commercial operation (COD).
The project is expected to help meet Bhutan's peak electricity demand during winter, while surplus power will be exported to India during the summer months.
Bhutan Prime Minister Lyonchen Dasho Tshering Tobgay, along with Finance Minister Lekey Dorji and Gem Tshering, of energy and natural resources, attended the signing ceremony.
Adani Power Managing Director Anil Sardana said surplus power from the project would be exported to India during the summer.
"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," Sardana added.
DGPC Managing Director Chhewang Rinzin said the project would strengthen Bhutan's energy security during winter while creating opportunities to optimise and export surplus clean energy to India.
