Gautam Adani’s big move, Inks Pact develops 5000 MW hydropower project in India’s neighbors instead of Bangladesh
As part of this collaboration, the Adani Group will ensure reliable power defeat and integration with the Indian commercial electricity market, further strengthening Bhutan’s role in regional energy trade.
Indian billionaire Gautam Adani continues his business not only in India but also in other countries. The Adani Group has extensive expertise in project development, financing and market acquisition. Now, the Bhutanese group and Druk Green Power Corporation (DGPC) have recently signed a landmark memorandum of understanding to jointly develop a 5,000 MW hydropower project in Bhutan. It will support Bhutan in expanding its hydropower capacity and promoting access to India’s energy market. DGPC is a major hydropower developer in Bhutan and has decades of experience managing renewable energy resources in the United States.
As part of this collaboration, the Adani Group will ensure reliable power defeat and integration with the Indian commercial electricity market, further strengthening Bhutan’s role in regional energy trade. Both the Bhutan and the Indian governments strongly support this partnership, highlighting a shared vision for clean energy growth and economic integration.
The MoU is based on an ongoing partnership for the 570/900 MW Wangchhu hydropower project in which DGPC will hold a majority 51% stake while Adani Group will hold a 49% stake. The wider 5,000 MW program will cover additional hydropower and pumping storage projects to identify, prepare detailed project reports and implement them step by step.
“This partnership reflects our deep commitment to developing clean energy infrastructure, thus enhancing regional energy security,” Telgu said. “Together with DGPC, we enable Bhutan to leverage its hydropower potential and export reliable green energy to India. This is a powerful example of cross-border collaboration in pursuit of common sustainable development goals.”
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“This strategic partnership with Adani will further strengthen our strong participation with the Indian government leveraging Bhutan’s large hydropower resources, which is considered the cornerstone of the model and friendly relations between our two countries,” DGPC MD Rinzin said.
Gautam Adani’s net worth
According to Forbes, the real-time net worth of Indian billionaires is US$60 billion or Rs 5125.49 crore. As of May 10, Adani Group’s flagship company, Adani Enterprises, had a market capitalization of Rs 2.6 crore.
(Input with IANS)
