Play store
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 on October 6, according to an Adani Power statement.
The project is the second major hydropower collaboration between the two companies, following their agreement on the 570MW Wangchhu Hydroelectric Project in September 2025.
It is also part of a broader memorandum of understanding signed by the Adani Group and DGPC in May 2025 to develop 5,000MW of hydropower capacity in Bhutan.
The peaking run-of-river project will be built on the Chamkharchhu 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 the start of construction.
The project will be developed through a 49:51 equity partnership, with Adani Power holding a 49% stake and DGPC 51%.
It will be implemented under a Build, Own, Operate and Transfer (BOOT) model, with a 30-year concession from the date of commercial operation.
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 Tshering Tobgay, Finance Minister Lekey Dorji and Energy and Natural Resources Minister Gem Tshering attended the signing ceremony.
Adani Power Managing Director Anil Sardana said surplus electricity from the project would be exported to India during the summer.
“Hydropower will play a pivotal role in accelerating South Asia’s energy transition,” Sardana said, adding that the project would contribute to energy security, lower carbon intensity and shared sustainability goals.
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.