Joint Venture19 May 2025, 08:57 am
Reliance Power Signs Commercial Term Sheet for 500 MW Solar Power Project in Bhutan with Green Digital Private Limited
AI Summary
Reliance Power Limited, one of India’s leading power generation companies, has signed a commercial term sheet for a long-term Power Purchase Agreement (PPA) with Green Digital Private Limited (GDL), owned by Druk Holding and Investments Limited (DHI), the investment arm of the Royal Government of Bhutan. This joint venture will develop Bhutan’s largest solar power project with a capacity of 500 MW and a capital outlay of up to INR 2,000 crores. This is the largest foreign direct investment (FDI) in Bhutan’s solar energy sector. The project is expected to redefine Bhutan’s solar generation capacity and significantly diversify its renewable energy portfolio beyond hydropower.
Key Highlights
- Reliance Power and DHI will jointly develop Bhutan’s largest solar power project through a 50:50 venture.
- The project entails a capital outlay of up to INR 2,000 crores under Build-Own-Operate (BOO) model.
- This is the largest private sector foreign direct investment (FDI) in Bhutan’s solar energy sector to date.
- The project is expected to redefine Bhutan’s solar generation capacity, surpassing all current solar installations.
- This initiative is poised to significantly diversify Bhutan’s renewable energy portfolio beyond hydropower and enhance grid stability and integration.