Anil Ambani Reliance Group and Druk Holding to jointly develop 500 MW of Solar and 770 MW of Hydropower projects in Bhutan

Reliance Group: Anil Ambani’s Reliance Group will set up solar and hydropower projects in Bhutan to produce 1270 MW of electricity. For this, the company has signed an agreement with Druk Holding and Investments Ltd, which is an investment company of the Royal Government of Bhutan. Reliance Group has also formed a new company by the name of Reliance Enterprises to invest in clean and green energy sector in Bhutan.

In a regulatory filing with the stock exchanges, Reliance Group said that it has entered into a strategic agreement with Druk Holding and Investments Ltd, the commercial and investment unit of the Government of Bhutan. Under this agreement, the company will invest in solar and hydropower in the field of renewable energy and green energy in Bhutan. In the presence of Anil Ambani, Harmanjit Singh Negi, President Corporate Development, Reliance Power Limited and Ujjwal Deep Dahal, Druk Holding and Investment have signed the agreement.

Reliance Enterprises in collaboration with Druk Holding will set up a 500 MW capacity solar power plant in Gelephu Mindfulness City, Bhutan. A 250 MW project will be set up in two phases in the next two years. After the project is fully developed, it will be the largest solar power project in Bhutan. This will be the largest foreign investment by an Indian company in the renewable energy sector in Bhutan. Apart from the solar project, Reliance Group company Reliance Power Limited and Druk Holding will jointly set up the 770 MW Chamkharchu-1 hydro project.

Ujjwal Deep Dahal, CEO of Druk Holding and Investment, said on this occasion, this partnership of Druk Holding with Reliance Enterprises shows the strength of both the companies in the field of green energy and its development. He said, together with Reliance we will develop a world class clean energy project which will be beneficial for both India and Bhutan.

read this also

Top Stock Idea Picks: These six stocks including Tata Motors, ACC SBI can give strong returns, these are the top picks of Deven Choksi Research