Adani Power stock in focus after Bhutan hydropower pact with DGPC
Adani Power and DGPC will jointly incorporate a public company in Bhutan with a 49:51 shareholding structure. Adani Power will hold 49% while DGPC will own 51% in the project company.
- Oct 6, 2026,
- Updated Oct 6, 2026 8:44 AM IST
Adani Power Ltd shares are in focus on Tuesday 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% while DGPC will own 51% in the project company. The two partners will have the right to appoint three directors each to its board and will make capital contributions from time to time in the agreed proportion.
Adani Power shares closed at Rs 196.95 in the previous trading session.
The Chamkharchhu-I project will be developed under the Build, Own, Operate and Transfer (BOOT) model and will carry a 30-year concession from the date of commercial operation. Construction is expected to begin in the first half of 2027, while commissioning is targeted within six years from groundbreaking.
The project marks the second major hydropower collaboration between Adani Power and DGPC. The two companies had earlier signed an agreement for the 570 MW Wangchhu Hydroelectric Project in September 2025. The latest project is also part of the broader 5,000 MW hydropower development partnership between the Adani Group and the Royal Government of Bhutan, based on a memorandum of understanding signed in May 2025.
The Chamkharchhu-I project is planned as a peaking run-of-river project in central Bhutan's Zhemgang District on the Chamkarchhu River. The company said the project is expected to strengthen Bhutan’s clean energy generation capacity and enhance regional energy cooperation.
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."
Sardana also said the project is expected to help meet Bhutan's peak winter electricity requirements and enable the export of surplus green power to India during the summer months.
Adani Power Ltd shares are in focus on Tuesday 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% while DGPC will own 51% in the project company. The two partners will have the right to appoint three directors each to its board and will make capital contributions from time to time in the agreed proportion.
Adani Power shares closed at Rs 196.95 in the previous trading session.
The Chamkharchhu-I project will be developed under the Build, Own, Operate and Transfer (BOOT) model and will carry a 30-year concession from the date of commercial operation. Construction is expected to begin in the first half of 2027, while commissioning is targeted within six years from groundbreaking.
The project marks the second major hydropower collaboration between Adani Power and DGPC. The two companies had earlier signed an agreement for the 570 MW Wangchhu Hydroelectric Project in September 2025. The latest project is also part of the broader 5,000 MW hydropower development partnership between the Adani Group and the Royal Government of Bhutan, based on a memorandum of understanding signed in May 2025.
The Chamkharchhu-I project is planned as a peaking run-of-river project in central Bhutan's Zhemgang District on the Chamkarchhu River. The company said the project is expected to strengthen Bhutan’s clean energy generation capacity and enhance regional energy cooperation.
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."
Sardana also said the project is expected to help meet Bhutan's peak winter electricity requirements and enable the export of surplus green power to India during the summer months.