550 MW Solar, 770 MW Hydro Projects Mark Reliance Group (Anil) Foray Into Bhutan

The Anil Ambani led Reliance Group has entered into a strategic partnership agreement with Druk Holding and Investments Ltd. (DHI), the commercial and investment arm of the Royal Government of Bhutan, to undertake various initiatives aimed at bolstering the investment in the renewable and green energy landscape of Bhutan. Bhutan, incidentally is one of the few 'carbon negative' countries in the world, thanks to its share of area under forest cover and power generation dominated by Hydro power.

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The partnership between Reliance Group and Druk Holding will focus on green energy generation, specifically solar and hydropower initiatives, while also exploring innovative green technologies. Reliance Group will collaborate with government-owned companies in Bhutan to implement infrastructure projects that support Bhutan's net-zero goals.

The partnership agreement was signed today by Harmanjit Singh Nagi, President (Corporate Development), Reliance Power Ltd. and Ujjwal Deep Dahal, CEO, Druk Holding and Investments, in the presence of Anil Ambani.  On this occasion, Reliance Group announced the establishment of a new flagship company, Reliance Enterprises, dedicated exclusively to promoting investment in Bhutan's renewable and green energy sector. Jointly promoted by Reliance Infrastructure Ltd. and Reliance Power Ltd., Reliance Enterprises will focus on enhancing sustainable energy solutions and implementing smart distribution and metering systems throughout Bhutan.

September has seen the stocks of both Reliance Infra and Reliance Power rise almost 60% on the back of visible plans to renew and grow with new projects in the space.

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500 MW Solar Project:

The newly formed Reliance Enterprises has partnered up with Druk Holding to jointly develop a 500 MW solar power plant in Gelephu Mindfulness City, Bhutan. This ambitious project, set to be executed over the next two years in two phases of 250 MW each, represents a significant milestone in Bhutan's renewable energy journey. Once completed, the solar plant will be the largest of its kind, surpassing all existing solar installations in the country.

Land for the project has been earmarked, and a technical team comprising experts from Reliance, Druk Holding, and external consultants is actively engaged in site assessments and technical studies. This initiative will also mark the single largest investment in Bhutan's renewable energy sector and the largest foreign direct investment (FDI) by an Indian company in the country.

770 MW Chamkharchhu-1 Hydro Project:

In addition to the solar initiative, Reliance Group company, Reliance Power Ltd. and Druk Holding have announced plans to jointly develop the 770 MW Chamkharchhu-1 hydro project. It is classified as a run-of-the-river project. With Bhutan's current installed power generation capacity at 2,452 MW, this project is particularly significant as it represents a joint venture between Bhutan and a private sector company in India.

About Reliance Group:
Reliance Group has a diverse presence across multiple sectors of the economy. Among its key ventures is Reliance Power, a leading power generation company in India with a total installed capacity of 5,340 MW, including the 4,000 MW Ultra Mega Power Project in Sasan, Madhya Pradesh—currently the largest integrated thermal power plant in the world.

Two prominent companies under the Reliance Group umbrella, Reliance Infrastructure Limited and Reliance Power Limited, are nearly debt-free now.