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Reliance Group partners with Bhutan govt to develop solar, hydropower projects

The Anil Ambani-led Reliance Group will jointly develop 500 MW of solar and 770 MW of hydropower projects in the country

October 02, 2024 / 18:36 IST
The 500-MW solar plant in Bhutan’s Gelephu Mindfulness City, will be executed over the next two years in two phases of 250 MW each (representational image)
     
     
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    Reliance Group announced a strategic partnership with the Bhutan government on October 2 to develop solar and hydropower projects, making this the largest foreign direct investment by a private company in the renewable energy sector in the Himalayan country.

    As part of the partnership with Druk Holding and Investments Ltd, the commercial and investment arm of the government of Bhutan, the Anil Ambani-led Reliance Group will jointly develop 500 MW of solar and 770 MW of hydropower projects in the country.

    The 500-MW solar plant in Bhutan’s Gelephu Mindfulness City will be executed over the next two years in two phases of 250 MW each, according to a press release. Once completed, the solar plant will be the largest of its kind, surpassing all existing solar installations in the country, and will produce clean, renewable energy to help mitigate the impacts of climate change.

    In addition to the solar project, Reliance Power Ltd and Druk Holding will jointly develop the 770-MW Chamkharchhu-1 Hydro Project, which has been classified as a run-of-the-river project under a concession model in accordance with Bhutan government policy, the release added.

    “The partnership between Reliance Group and Druk Holding will focus on green energy generation, specifically solar and hydropower initiatives, while also exploring innovative green technologies. Reliance Group will collaborate with government-owned companies in Bhutan to implement infrastructure projects that support Bhutan’s net-zero goals,” the release added.

    Reliance Group also announced the establishment of a new flagship company, Reliance Enterprises, to promote investment in Bhutan’s renewable and green energy sector. Jointly promoted by Reliance Infrastructure Ltd and Reliance Power, the company will focus on enhancing sustainable energy solutions and implementing smart distribution and metering systems throughout Bhutan.

    Moneycontrol News
    first published: Oct 2, 2024 06:36 pm

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