Stock to watch next week: Adani Power gets 570 MW Bhutan hydro order; details here
At close on Friday, Adani Power shares rose 0.21 per cent to Rs 609.80. The stock has surged nearly 41 per cent from its 52-week low of Rs 430.85.
- Sep 6, 2025,
- Updated Sep 6, 2025 1:48 PM IST
Adani Power shares are poised to be in the spotlight as markets open next week after the power producer announced a significant international expansion. The company has formalised a shareholders' agreement with Druk Green Power Corp Ltd (DGPC), Bhutan's state-owned generation utility, to develop a 570 MW hydroelectric project.
In a filing with stock exchanges on Saturday, Adani Power confirmed the agreement was signed on the evening of September 5. The deal paves the way for the creation of a joint venture to build the Wangchhu hydroelectric project on a build, own, operate, transfer (BOOT) model.
At close on Friday, Adani Power shares rose 0.21 per cent to Rs 609.80. The stock has surged nearly 41 per cent from its 52-week low of Rs 430.85 and gained 20 per cent over the past six months.
Among technical indicators, the stock is trading above its 5-, 10-, 20-, 30-, 50-, 100-, 150- and 200-day simple moving averages (SMAs).
According to the disclosure, Adani Power and DGPC will incorporate a new public company in Bhutan, with Adani Power holding a 49 per cent stake and DGPC holding the majority 51 per cent.
The project represents a substantial investment of approximately Rs 6000 crore. With the detailed project report already finalised, the company stated that "construction work is expected to begin by the first half of 2026, and the completion is targeted within five years of groundbreaking," Adani Power said.
SB Khyalia, CEO of Adani Power, said the strategic rationale behind the project. "The Wangchhu hydroelectric project will critically meet Bhutan's peak winter demand, when hydro power generation is low. During the summer months, it would export power to India," he said.
This venture is the first to materialise from a broader Memorandum of Understanding signed in May 2025 between the Adani Group and DGPC to jointly develop 5,000 MW of hydropower capacity in Bhutan, signaling a long-term strategic partnership.
From the Bhutanese perspective, the collaboration is a cornerstone of its economic and energy strategy. Dasho Chhewang Rinzin, MD of DGPC, said, "As Bhutan endeavours to become a high-income GNH (Gross National Happiness) country within the next decade, access to reliable and affordable electricity from its renewable energy resources... will be critical." He added that the project will "not only help ensure Bhutan's energy security but also help further strengthen grid connectivity between Bhutan and India."
Adani Power shares are poised to be in the spotlight as markets open next week after the power producer announced a significant international expansion. The company has formalised a shareholders' agreement with Druk Green Power Corp Ltd (DGPC), Bhutan's state-owned generation utility, to develop a 570 MW hydroelectric project.
In a filing with stock exchanges on Saturday, Adani Power confirmed the agreement was signed on the evening of September 5. The deal paves the way for the creation of a joint venture to build the Wangchhu hydroelectric project on a build, own, operate, transfer (BOOT) model.
At close on Friday, Adani Power shares rose 0.21 per cent to Rs 609.80. The stock has surged nearly 41 per cent from its 52-week low of Rs 430.85 and gained 20 per cent over the past six months.
Among technical indicators, the stock is trading above its 5-, 10-, 20-, 30-, 50-, 100-, 150- and 200-day simple moving averages (SMAs).
According to the disclosure, Adani Power and DGPC will incorporate a new public company in Bhutan, with Adani Power holding a 49 per cent stake and DGPC holding the majority 51 per cent.
The project represents a substantial investment of approximately Rs 6000 crore. With the detailed project report already finalised, the company stated that "construction work is expected to begin by the first half of 2026, and the completion is targeted within five years of groundbreaking," Adani Power said.
SB Khyalia, CEO of Adani Power, said the strategic rationale behind the project. "The Wangchhu hydroelectric project will critically meet Bhutan's peak winter demand, when hydro power generation is low. During the summer months, it would export power to India," he said.
This venture is the first to materialise from a broader Memorandum of Understanding signed in May 2025 between the Adani Group and DGPC to jointly develop 5,000 MW of hydropower capacity in Bhutan, signaling a long-term strategic partnership.
From the Bhutanese perspective, the collaboration is a cornerstone of its economic and energy strategy. Dasho Chhewang Rinzin, MD of DGPC, said, "As Bhutan endeavours to become a high-income GNH (Gross National Happiness) country within the next decade, access to reliable and affordable electricity from its renewable energy resources... will be critical." He added that the project will "not only help ensure Bhutan's energy security but also help further strengthen grid connectivity between Bhutan and India."