Adani Power shares rise 2% on pact for 770 MW Bhutan hydropower project
Adani Power will hold 49% in the project company, while DGPC will hold the remaining 51%. Both companies will have the right to appoint three directors each to the board, while capital contributions will be made in the agreed proportion.
- Oct 6, 2026,
- Updated Oct 6, 2026 10:59 AM IST
Adani Power Ltd shares rose 2% in Tuesday's trade after the company signed a shareholders agreement with Bhutan's state-owned Druk Green Power Corp. Ltd (DGPC) to set up a 770 MW Chamkharchhu-I Hydroelectric Project in Bhutan. The agreement was signed on October 5, 2026, with the two companies agreeing to jointly develop the project.
Under the agreement, Adani Power and DGPC will jointly incorporate a public company in Bhutan with a 49:51 shareholding structure. Adani Power will hold 49% in the project company, while DGPC will hold the remaining 51%. Both companies will have the right to appoint three directors each to the board, while capital contributions will be made in the agreed proportion.
Adani Power shares touched a high of Rs 205.40, up 2.34% from the previous close of Rs 200.70.
The Chamkharchhu-I project will be developed under the Build, Own, Operate and Transfer (BOOT) model and will have a 30-year concession from the date of commercial operation. Construction is expected to begin in the first half of 2027, with commissioning targeted within six years of groundbreaking. The project is located in central Bhutan's Zhemgang District on the Chamkarchhu River.
The project marks the second major hydropower collaboration between Adani Power and DGPC, following the 570 MW Wangchhu Hydroelectric Project agreement signed in September 2025. It also forms part of the broader 5,000 MW hydropower development partnership between the Adani Group and DGPC under a memorandum of understanding signed in May 2025.
Commenting on the development, Anil Sardana, Managing Director of Adani Power, said, "We are delighted to strengthen our partnership with the Royal Government of Bhutan and DGPC through the Chamkharchhu Hydroelectric Project. Hydropower will play a pivotal role in accelerating South Asia's energy transition, and this project will contribute significantly to enhancing energy security, reducing carbon intensity, and advancing shared sustainability goals."
"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, Sardana said.
The company said both organisations remain engaged in evaluating additional hydropower opportunities under the broader 5,000 MW development programme.
Adani Power Ltd shares rose 2% in Tuesday's trade after the company signed a shareholders agreement with Bhutan's state-owned Druk Green Power Corp. Ltd (DGPC) to set up a 770 MW Chamkharchhu-I Hydroelectric Project in Bhutan. The agreement was signed on October 5, 2026, with the two companies agreeing to jointly develop the project.
Under the agreement, Adani Power and DGPC will jointly incorporate a public company in Bhutan with a 49:51 shareholding structure. Adani Power will hold 49% in the project company, while DGPC will hold the remaining 51%. Both companies will have the right to appoint three directors each to the board, while capital contributions will be made in the agreed proportion.
Adani Power shares touched a high of Rs 205.40, up 2.34% from the previous close of Rs 200.70.
The Chamkharchhu-I project will be developed under the Build, Own, Operate and Transfer (BOOT) model and will have a 30-year concession from the date of commercial operation. Construction is expected to begin in the first half of 2027, with commissioning targeted within six years of groundbreaking. The project is located in central Bhutan's Zhemgang District on the Chamkarchhu River.
The project marks the second major hydropower collaboration between Adani Power and DGPC, following the 570 MW Wangchhu Hydroelectric Project agreement signed in September 2025. It also forms part of the broader 5,000 MW hydropower development partnership between the Adani Group and DGPC under a memorandum of understanding signed in May 2025.
Commenting on the development, Anil Sardana, Managing Director of Adani Power, said, "We are delighted to strengthen our partnership with the Royal Government of Bhutan and DGPC through the Chamkharchhu Hydroelectric Project. Hydropower will play a pivotal role in accelerating South Asia's energy transition, and this project will contribute significantly to enhancing energy security, reducing carbon intensity, and advancing shared sustainability goals."
"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, Sardana said.
The company said both organisations remain engaged in evaluating additional hydropower opportunities under the broader 5,000 MW development programme.