innovation,Adani Power, India's leading private power producer, and Druk Green Power Corp. Ltd. (DGPC), Bhutan's state-owned generation utility, have signed the Shareholders Agreement for setting up the 770 MW Chamkharchhu-I Hydroelectric Project in the Kingdom of Bhutan.

A Milestone Signing

The signing ceremony, held on October 6, 2026, in Thimpu/Ahmedabad, was graced by the Hon'ble Prime Minister of Bhutan, Lyonchen Dasho Tshering Tobgay, and attended by the Hon'ble Minister of Finance and the Hon'ble Minister of Energy and Natural Resources, along with representatives from Druk Holding & Investments Limited (DHI), Bhutan Power Corporation Limited (BPC), the DGPC Board, DGPC Management, and Adani Power.

The agreement establishes a 49:51 equity partnership between Adani Power and Druk Green Power, with the project slated for delivery within six years of ground-breaking.

Project Details and Structure

The Chamkharchhu-I project is a peaking run-of-river hydropower scheme located in central Bhutan's Zhemgang District on the Chamkarchhu River. The project will be implemented under the Build, Own, Operate, and Transfer (BOOT) model through the 49:51 equity partnership between Adani Power and DGPC, with a concession period of 30 years from the commercial operation date (COD).

Construction is expected to commence in the first half of 2027, with commissioning targeted for six years from groundbreaking. According to the companies, the project will strengthen Bhutan's clean energy generation capacity and enhance regional energy cooperation.

Part of a Broader 5,000 MW Partnership

The Chamkharchhu-I agreement marks the second major hydropower collaboration between the two partners, following the 570 MW Wangchhu Hydroelectric Project agreement signed in September 2025.

It also forms part of the broader 5,000 MW hydropower development Memorandum of Understanding (MoU) signed between the Adani Group and DGPC in May 2025.

Both organizations remain actively engaged in evaluating additional hydropower opportunities under the broader 5,000 MW development programme.

Executive Perspectives

Anil Sardana, Managing Director of Adani Power Ltd., said the company was delighted to strengthen its partnership with the Royal Government of Bhutan and DGPC through the Chamkharchhu Hydroelectric Project.

He noted that hydropower will play a pivotal role in accelerating South Asia's energy transition and that the project will contribute significantly to enhancing energy security, reducing carbon intensity, and advancing shared sustainability goals.

According to Sardana, while the project is expected to help meet Bhutan's peak winter electricity requirements, it will also enable the export of surplus green power to India during the summer months, creating long-term value for both nations.

Mr. Dasho Chhewang Rinzin, Managing Director of DGPC, described the partnership as another significant milestone in Bhutan's hydropower development journey that further strengthens the long-standing energy partnership between Bhutan and India.

He said the 770 MW project will contribute to strengthening Bhutan's energy security, particularly during the winter months, while creating opportunities to optimize and export surplus clean energy to India.

Rinzin added that beyond the project itself, the collaboration reflects a shared commitment to developing Bhutan's renewable energy resources through strong partnerships and responsible, efficient project delivery, and expressed enthusiasm for advancing further opportunities under the broader hydropower development partnership.

About the Partners

Adani Power Limited (APL), a part of the Adani portfolio, is the largest private thermal power producer in India, with an installed thermal power capacity of 18,290 MW spread across 14 power plants in Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh, Madhya Pradesh, Jharkhand, and Tamil Nadu, in addition to a 40 MW solar power plant in Gujarat.

The company is harnessing technology and innovation to transform India into a power-surplus nation and provide quality and affordable electricity.

Druk Green Power Corporation Limited is Bhutan's leading renewable energy generation company and a wholly owned subsidiary of Druk Holding & Investments Limited, the commercial arm of the Royal Government of Bhutan.

With a generation portfolio of over 3,500 MW, DGPC is at the forefront of Bhutan's ambition to expand its renewable energy capacity to 25,000 MW by 2040. Established in 2008, DGPC has built extensive expertise across the energy value chain, particularly in hydropower development and operations, and is now expanding into solar and other renewable energy opportunities.

Through strategic partnerships, innovation, and sustainable project development, DGPC is working to harness Bhutan's renewable energy potential while strengthening energy security and enabling greater regional energy cooperation.

Stay Ahead of Asia-Pacific's Power Transmission Boom

How many gigawatts of new generation capacity will come online across Asia-Pacific in the next five years, and which developers, contractors, and EPC firms are positioned to win the work? Utility-scale solar in India, offshore wind in Taiwan, and hydro expansions in Bhutan: the pipeline is enormous, but fragmented across dozens of markets and sources.

The Global Project Tracking (GPT) platform by Blackridge Research consolidates the region's power sector landscape into a single, continuously updated database, from early-stage announcements through commissioning, so your business development team never learns about an opportunity after the contract is signed.

Whether you supply turbines, grid equipment, EPC services, or project financing, timely intelligence on where capital is flowing across Asia-Pacific's power markets can mean the difference between leading the tender and chasing the incumbent.

• Upcoming Projects

• Tender Notices

• Contract Awards

• Projects Under Construction

• Completed Projects

Book a Free Demo of the Global Project Tracking (GPT) platform by Blackridge Research and see the full power project pipeline for Asia-Pacific today.