Reliance Group and Druk Holding and Investments (DHI), the commercial arm of the government, have formed a strategic partnership to develop major solar and hydropower projects in Bhutan. This collaboration aims to boost Bhutan’s green energy landscape with a 500-megawatt solar power plant and a 770-megawatt hydropower project. Reliance Infra Limited and DHI formalised the agreement today at the Bhutan Innovation Forum in Paro, in the presence of Prime Minister Tshering Tobgay and Reliance Group Chairman, Anil Ambani.
The partnership with the Anil Ambani-led Reliance Enterprises, a new flagship company, focuses on clean energy generation.
The 500-megawatt solar power plant will be developed in the Gelephu Mindfulness City.
The project will be executed in two phases of 250-megawatts each over the next two years. It is set to become Bhutan’s largest solar installation.
The prime minister said “I am delighted that you are here, partnering with us towards a sustainable future, partnering with us and with DHI to generate green renewable energy using solar energy and hydropower. Thank you and congratulations for bringing Reliance Enterprises to Bhutan and setting up a separate entity to focus on our partnership.”
Anil Ambani, Chairman of Reliance Group said “I believe we are amongst the first companies that have actually created a company called Reliance Enterprises focused only on investment in Bhutan. I wish and congratulate, the people of Bhutan, His Majesty The King, Prime Minister of Bhutan, and all colleagues great luck, great cooperation, great friendship and may we continue to bloom as families between India and Bhutan.”
The Reliance Enterprises and DHI will also undertake the 770-megawatt Chamkharchhu-1 hydropower project.
The project will boost Bhutan’s current energy capacity and further cement its reputation as a renewable energy leader in the region.
Reliance Power Limited will hold a 49 per cent stake in the venture, with DHI retaining 51 per cent, ensuring Bhutan’s leadership in the project.
According to a joint news release, the initiative will represent one of the largest investments in Bhutan’s renewable energy sector and the most significant foreign direct investment by an Indian company.
Passang Dorji, Paro
