Reliance Group Partners with Druk Holding to Develop 1270 MW RE Projects in Bhutan
Reliance Group has partnered with Bhutan’s Druk Holding to jointly develop a 500 MW solar plant and a 770 MW hydropower plant in Bhutan. This marks the largest FDI by a private company in the renewable energy sector in Bhutan.
October 03, 2024. By Mrinmoy Dey
Reliance Group also announced the formation of a new flagship company, Reliance Enterprises, dedicated exclusively to promoting investment in Bhutan's renewable and green energy sector. Jointly promoted by Reliance Infrastructure Ltd. and Reliance Power Ltd., Reliance Enterprises will focus on enhancing sustainable energy solutions and implementing smart distribution and metering systems throughout Bhutan.
The newly formed Reliance Enterprises has partnered up with Druk Holding to jointly develop a 500 MW solar power plant in Gelephu Mindfulness City, Bhutan. This ambitious project, set to be executed over the next two years in two phases of 250 MW each, represents a significant milestone in Bhutan's renewable energy journey.
“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,” claimed Reliance Group in a statement.
It further added that land for the project has been earmarked, and a technical team comprising experts from Reliance, Druk Holding, and external consultants is actively engaged in site assessments and technical studies. “This initiative will also mark the single largest investment in Bhutan's renewable energy sector and the largest foreign direct investment (FDI) by an Indian company in the country,” it said.
In addition to the solar initiative, Reliance Group company, Reliance Power Ltd. and Druk Holding have announced plans to jointly develop the 770 MW Chamkharchhu-1 hydro project. It is classified as a run-of-the-river project. With Bhutan's current installed power generation capacity at 2,452 MW, this project is particularly significant as it represents a joint venture between Bhutan and a private sector company in India.
Speaking on the occasion, Ujjwal Deep Dahal, CEO, Druk Holding and Investments, said, “The partnership between Reliance Enterprises and Druk Holding leverages the strengths of both organisations in the areas of green energy and development. We are pleased to be partnering with Reliance and together we are committed to delivering world-class clean energy projects that will benefit both India and Bhutan.”
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