Gautam Adani's BIG move, inks pact to develop 5000 MW hydropower projects in India's neighbour, not Bangladesh, Sri Lanka

Indian billionaire Gautam Adani continues his business not just in India, but also in other countries. The Adani Group brings extensive expertise in project development, financing, and market access. Now, the group and the Druk Green Power Corporation (DGPC) of Bhutan have recently signed a landmark MoU to jointly develop 5,000 MW of hydropower projects in Bhutan. It will support Bhutan in scaling up its hydropower capacity and facilitating access to Indian energy markets. The DGPC is Bhutan's premier hydropower developer with decades of experience in managing the nation's renewable energy resources.

As part of this collaboration, the Adani Group will ensure reliable power offtake and integration with India's commercial power markets, further reinforcing Bhutan's role in the regional energy trade. The partnership is strongly backed by both the Bhutan and Indian governments, underscoring a shared vision for clean energy growth and economic integration.

This MoU builds on the ongoing partnership for the 570/900 MW Wangchhu Hydropower Project, in which the DGPC will hold a majority 51 per cent stake and the Adani Group will hold 49 per cent. The broader 5,000 MW initiative will encompass additional hydropower and pumped storage projects to be identified, Detailed Project Reports prepared, and taken forward for implementation in phases.

"This partnership reflects our deep commitment to developing clean energy infrastructure that enhances regional energy security," Adani Green Hydro Ltd's COO, PSP & Hydro, Telgu said. "Together with the DGPC, we are enabling Bhutan to harness its hydropower potential and export reliable green energy to India. This is a powerful example of cross-border collaboration in pursuit of shared sustainable development goals."

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"This strategic partnership with Adani will further strengthen our very strong engagement with the Government of India in harnessing Bhutan's abundant hydropower resources, which is considered the cornerstone of the exemplary and friendly relations between our two countries," DGPC MD Rinzin said.

Gautam Adani's net worth

The Indian billionaire has a real-time net worth of USD 60 billion or Rs 512549 crore, as per Forbes. The Adani Group's flagship firm, Adani Enterprises, has a market cap of Rs 2.60 lakh crore, as of May 10.

(With inputs from IANS)