Reliance Power signs ₹2,000-cr partnership with Bhutan’s DHI to build a 500 MW solar plant

Reliance Power and Bhutan’s DHI Ink ₹2,000 Crore Partnership for 500 MW Solar Project

In a significant development in the renewable energy sector, Reliance Power has embarked on a partnership with Druk Holding and Investments (DHI), Bhutan’s commercial arm, to construct a 500 megawatt (MW) solar power plant. This venture, valued at ₹2,000 crore, marks an endeavor to build Bhutan’s largest solar project, according to reports from Business Standard and other leading publications.

This landmark project is set to be a joint venture, implying a collaborative investment between Reliance Power and DHI. The initiative is poised to enhance Bhutan’s renewable energy capacity substantially. Reliance Power’s move comes alongside the signing of a long-term power purchase agreement, ensuring the long-term feasibility and success of the solar installation, as highlighted by The Times of India.

Moreover, the financial markets reacted positively to this announcement, with Reliance Power’s share price edging higher, as reported by Mint. The excitement from investors suggests confidence in this initiative’s potential to contribute to Reliance Power’s growth and its commitment to sustainability.

The project underlines Reliance Power’s expansion strategy, aligning with its focus on sustainable energy solutions. Fortune India highlighted the transformative nature of the project, which fosters closer ties between India and Bhutan in the realm of clean energy.

As Bhutan moves towards harnessing its solar energy potential, this partnership could serve as a model for other similar collaborations in the region. With this venture, Reliance Power is set to play a crucial role in Bhutan’s renewable energy landscape, contributing to the broader agenda of environmental sustainability and energy security.