Adani Power, Bhutan utility sign hydropower project SHA

Adani Power Limited (APL) and Druk Green Power Corp. Ltd. (DGPC), Bhutan's state-owned utility, have signed a Shareholders Agreement (SHA) to establish a 770 MW Chamkharchhu Hydropower Project in Thimpu, Bhutan. The agreement, signed on October 5, 2026, outlines a joint incorporation of a public company in Bhutan with a 49:51 shareholding between APL and DGPC, respectively. This project is part of a larger strategic partnership between Adani Group and the Royal Government of Bhutan for hydropower development. The SHA details terms including board appointments, capital contributions, and standard clauses like pre-emptive rights and non-compete provisions. Initially, the project company will issue shares valued at BTN 100 per share.