Adani Power has partnered with Druk Green Power Corporation to develop a 770 MW hydropower project in Bhutan under a 49:51 equity split. This initiative is part of a larger 5,000 MW bilateral clean energy roadmap. Investors will track the long-term execution timeline and how the company manages large-scale cross-border infrastructure in challenging terrain.
Adani Power has officially entered into a shareholders agreement with Bhutan’s Druk Green Power Corporation (DGPC) to develop the 770 MW Chamkharchhu-I hydroelectric project. The project, located in the Zhemgang district of Bhutan, is a significant step in the bilateral clean energy roadmap shared between the Adani Group and the Royal Government of Bhutan.
The venture will operate under a Build, Own, Operate, and Transfer (BOOT) framework, which grants a 30-year concession period after the project begins commercial operations. In terms of equity, the project is structured with a 49:51 split, where Adani Power holds a 49% stake and Druk Green Power Corporation retains the majority 51% interest. Construction is scheduled to commence in the first half of 2027, with the target to complete and commission the facility within approximately six years.
This agreement builds upon a broader strategic goal to develop 5,000 MW of hydroelectric capacity in the region. It follows a previous agreement signed in September 2025 for the 570 MW Wangchhu project, indicating a sustained commitment to cross-border power infrastructure. The arrangement is designed to help Bhutan manage its electricity needs, particularly during winter, while allowing surplus green energy to be exported to the Indian power grid during summer months.
For investors, this project adds to the company’s long-term infrastructure pipeline. As of October 6, 2026, Adani Power’s shares were trading at approximately ₹201.00. The company has also been focusing on internal restructuring recently, including the merger of 10 of its wholly owned subsidiaries, which was completed in late September 2026.
While the project aligns with regional growth, investors often monitor several factors regarding such large-scale investments. First, developing hydropower projects in Himalayan terrain involves complex engineering and potential execution risks, which can lead to timelines or costs deviating from initial estimates. Second, cross-border projects are subject to geopolitical and regulatory shifts between the two nations, which are outside the company's direct control. Finally, as a capital-intensive utility company, maintaining a healthy balance between expansion and debt levels remains a key area for investors to evaluate over the coming years. Monitoring updates on project clearances, land acquisition progress, and financing details will be the logical next steps for those following the company’s infrastructure expansion.