Tata Power Company on November 19 announced a strategic partnership with Druk Green Power Corporation Limited (DGPC) for to develop at least 5,000 MW of clean energy generation capacity in Bhutan, the firm said in an exchange filing.
DGPC is a subsidiary of Druk Holding and Investments Limited, which is the sole generation utility of the Himalayan country.
The Tata group firm said the move is in line with Bhutan’s vision for its energy sector, in which it plans to take its overall generation capacity to 25,000 MW by 2040 for its energy security and regional energy integration.
“Bhutan plans to achieve this target through diversification in its energy portfolio beyond traditional hydropower, which would include solar and geothermal energy. This will extend to diversifying project structuring and financing through such strategic partnership,” the statement said.
Praveer Sinha, CEO and managing director of Tata Power, said the agreement shows the Indian company as the "most preferred clean energy firm in the region".
“Together, we are building 5000 MW of clean energy capacity that will help harness Bhutan's hydropower potential and support both countries' growing energy demands with reliable and round-the-clock clean energy supply. Together we are shaping a new energy era."
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