Anil Ambani-led Reliance Group to Develop 1,270 MW of Renewable Energy Projects in Bhutan
In a major development, the Anil Ambani-led Reliance Group has announced a strategic partnership with Bhutan’s Druk Holding and Investments Ltd. (DHI) to develop 1,270 MW of renewable energy projects in Bhutan. The partnership aims to focus on solar and hydropower projects and is considered the largest foreign direct investment (FDI) in Bhutan’s green energy sector by an Indian company.
Fostering Renewable Energy Infrastructure
The partnership between Reliance Group and DHI is set to bolster Bhutan’s renewable energy infrastructure significantly. The collaboration aligns with Bhutan’s goal of achieving net-zero targets and emphasizes the country’s commitment to reducing carbon emissions.
As part of the agreement, Reliance Group will initially work with Druk Holding to establish a monumental 500 MW solar power plant in Gelephu Mindfulness City. The project will be executed in two phases of 250 MW each and will be the largest solar facility in Bhutan. Notably, the land for the project has already been allocated, and joint teams comprising external consultants are conducting technical studies and site assessments.
Furthering their efforts, the partnership will also focus on developing the Chamkharchhu-1 hydroelectric project, which has a capacity of 770 MW. This run-of-the-river facility will significantly enhance Bhutan’s existing power generation capacity of 2,452 MW. The project holds significance as it brings together a Bhutanese state-owned entity and a private Indian company, reflecting Bhutan’s aspirations for green energy expansion.
New Entity for Renewable Energy Investments
In conjunction with these initiatives, Reliance Group has announced the creation of a new flagship entity called Reliance Enterprises. Jointly promoted by Reliance Infrastructure Ltd. and Reliance Power Ltd., this new entity will serve as the driving force behind investments in Bhutan’s renewable energy sector. The focus of Reliance Enterprises will be on sustainable energy solutions and smart distribution systems, aligning their efforts with Bhutan’s Gross National Happiness Index. This index, unique to Bhutan, underscores the country’s commitment to economic progress without compromising on citizen well-being.
The signing ceremony marking the formalization of the partnership was attended by Harmanjit Singh Nagi, President Corporate Development of Reliance Power Ltd., and Ujjwal Deep Dahal, CEO of Druk Holding, along with the presence of Anil Ambani. The event symbolizes the beginning of a fruitful collaboration that will contribute significantly to Bhutan’s progress in the renewable energy sector.
This strategic partnership between Reliance Group and Druk Holding holds immense promise for the expansion of Bhutan’s renewable energy capacity. By leveraging their respective expertise and resources, both parties aim to accelerate the deployment of sustainable energy solutions, fostering economic growth and environmental harmony for the benefit of Bhutan and its citizens.
About Reliance Group
The Reliance Group, led by Anil Ambani, is a prominent conglomerate with diversified business interests. Their foray into the renewable energy sector substantiates their commitment to sustainable and clean sources of energy. Reliance Group’s participation in the Bhutanese green energy market marks a crucial milestone in India’s ambition to expand its presence in the international renewable energy space.
About Bhutan’s Renewable Energy Sector
Bhutan, renowned for its commitment to preserving the environment and promoting sustainable development, is focusing on harnessing its abundant renewable energy potential. The partnership with Reliance Group will accelerate the country’s transition to an energy-efficient future and amplify its efforts to achieve net-zero emissions. Bhutan’s natural landscape offers immense possibilities for renewable energy projects, and this collaboration opens up new avenues for green technology adoption and development.
With this ambitious venture, both Reliance Group and Druk Holding envision not only strengthening Bhutan’s renewable energy infrastructure but also bolstering economic progress, fostering clean initiatives, and enhancing overall well-being in the region. Both entities are poised to leaving an indelible mark on the renewable energy landscape in Bhutan.
