Anil-led group forays into Bhutan, to set up 1,270 MW green projects
Anil Ambani-led Reliance Group on Wednesday announced its foray into Bhutan and said it would set up 1,270 megawatt solar and hydroelectric projects in the Himalayan Kingdom.
“We have entered into a strategic partnership agreement with Druk Holding and Investments Ltd (DHI), the commercial and investment arm of the Royal Government of Bhutan, to undertake various initiatives aimed at bolstering investment in the renewable and green energy landscape of Bhutan,” the group said in a statement.
The partnership between Reliance Group and Druk Holding will focus on green energy generation, specifically solar and hydropower initiatives, while also exploring innovative sustainable technologies.
The Indian group has set up a new company, Reliance Enterprises, for investments in Bhutan’s renewable and green energy sector. Reliance Enterprises will be jointly promoted by Mumbai-listed Reliance Infrastructure Ltd and Reliance Power Ltd.
It will set up a 500 MW solar plant in two phases of 250 MW each over the next two years.
Reliance Power and Druk Holding will also jointly develop the 770 MW Chamkharchhu-1 hydro project. The project has been classified as a run-of-the-river project and under a concession model in accordance with Bhutan government policy.
“Reliance Group will collaborate with government-owned companies in Bhutan to implement infrastructure projects that support Bhutan’s net-zero goals,” the statement read.
The partnership agreement was signed today by Harmanjit Singh Nagi, president, Corporate Development, Reliance Power Ltd, and Ujjwal Deep Dahal, CEO, Druk Holding and Investments, in the presence of Anil Ambani.
Jointly promoted by Reliance Infrastructure Ltd and Reliance Power Ltd, Reliance Enterprises will focus on enhancing sustainable energy solutions and implementing smart distribution and metering systems throughout Bhutan. The 500 MW solar power plant will be set up in Gelephu Mindfulness City.
