India-based Adani Group has entered a memorandum of understanding (MOU) with Bhutan’s Druk Green Power Corporation (DGPC) to jointly develop a series of hydropower projects totalling 5GW in Bhutan.

The MOU, signed in the kingdom’s capital, Thimphu, paves the way for the expansion of the ongoing partnership between the two entities, which includes the 570/900MW Wangchhu Hydropower Project.

DGPC will maintain a majority stake of 51% in the project, with Adani holding the remaining 49%.

The broader initiative will include additional hydropower and pumped storage projects, which will be identified and developed in phases.

DGPC MD Dasho Chhewang Rinzin said: “This strategic partnership with Adani will further strengthen our very strong engagement with the Government of India in harnessing Bhutan’s abundant hydropower resources, which is considered as the cornerstone of the exemplary and friendly relations between our two countries.”

The partnership is a part of Bhutan’s Renewable Energy Roadmap, which aims for an additional 20GW of generation capacity by 2040, with a focus on diversification into solar and geothermal energy, as well as strategic partnerships to attract investment and innovation.

Adani’s role will extend to ensuring reliable power offtake and integration with India’s commercial power markets.

Adani Green Hydro COO (PSP & Hydro) Naresh Telgu said: “This partnership reflects our deep commitment to developing clean energy infrastructure that enhances regional energy security.

“Together with DGPC, we are enabling Bhutan to harness its hydropower potential and export reliable green energy to India. This is a powerful example of cross-border collaboration in pursuit of shared sustainable development goals.”

Recently, Adani Power secured a 25-year contract to supply 1.5GW of electricity to the Indian state of Uttar Pradesh.

The contract, awarded through competitive bidding, involves power supply from a new 1.6GW thermal power project.