Adani Power and Druk Green Power Corporation Ltd (DGPC) have signed a shareholders agreement to develop the 770 MW Chamkharchhu-I Hydroelectric Project in Bhutan under a Build-Own-Operate-Transfer model. The partnership forms part of a broader 5,000 MW hydropower programme, strengthening Bhutan’s energy security and potential cross-border energy exports to India.
India
-Oneindia Staff
Adani Power and Bhutan’s state-owned Druk Green Power Corporation Ltd (DGPC) have signed a Shareholders Agreement to develop the 770 MW Chamkharchhu-I Hydroelectric Project in Bhutan.
The agreement marks another major step in the growing energy partnership between India and Bhutan and is part of a broader 5,000 MW hydropower development partnership between the Adani Group and the Royal Government of Bhutan. The signing ceremony was attended by Bhutan Prime Minister Lyonchen Dasho Tshering Tobgay, along with the country’s Finance Minister and Minister of Energy and Natural Resources. Representatives of Druk Holding & Investments Limited, Bhutan Power Corporation, DGPC’s board and management, and Adani Power were also present.
Adani Power and Druk Green Power Corporation Ltd (DGPC) have signed a shareholders agreement to develop the 770 MW Chamkharchhu-I Hydroelectric Project in Bhutan under a Build-Own-Operate-Transfer model. The partnership forms part of a broader 5,000 MW hydropower programme, strengthening Bhutan’s energy security and potential cross-border energy exports to India.
The Chamkharchhu-I project will be developed under the *Build, Own, Operate and Transfer (BOOT)* model through a 49:51 equity partnership between Adani Power and DGPC. Located on the Chamkarchhu River in Bhutan’s Zhemgang District, the 770 MW project is planned as a peaking run-of-river hydropower project. The concession period will be 30 years from the date of commercial operation (COD). Construction is expected to begin in the first half of 2027, while commissioning is targeted within six years of groundbreaking.
Second Major Hydropower Collaboration
The agreement is the second major hydropower collaboration between Adani Power and DGPC. The two companies had earlier signed an agreement for the 570 MW Wangchhu Hydroelectric Project in September 2025. The Chamkharchhu-I project also forms part of the broader 5,000 MW hydropower development Memorandum of Understanding signed between the Adani Group and DGPC in May 2025. The two organisations are continuing to evaluate additional hydropower opportunities under the larger 5,000 MW development programme.
Project To Strengthen Bhutan’s Energy Security
According to Adani Power Managing Director Anil Sardana, the project is expected to play an important role in South Asia’s energy transition. Sardana said the hydropower project would contribute to energy security, help reduce carbon intensity and support sustainability goals. He also said the project is expected to help meet Bhutan’s peak winter electricity requirements, while surplus green power could be exported to India during the summer months.
DGPC Managing Director Dasho Chhewang Rinzin said the project would strengthen Bhutan’s energy security, particularly during the winter months, while creating opportunities to optimise and export surplus clean energy to India. He also described the agreement as another milestone in Bhutan’s hydropower development and the long-standing energy partnership between Bhutan and India.
Bhutan Targets Major Expansion In Renewable Energy
DGPC is Bhutan’s leading renewable energy generation company and a wholly owned subsidiary of Druk Holding & Investments Limited, the commercial arm of the Royal Government of Bhutan. The company currently has a generation portfolio of more than 3,500 MW and is working towards Bhutan’s ambition of expanding renewable energy capacity to 25,000 MW by 2040. Established in 2008, DGPC has expertise in hydropower development and operations and is also expanding into solar and other renewable energy opportunities.
