Adani Power signs SHA for 770 MW Bhutan hydropower project with DGPC

Adani Power and Druk Green Power Corp (DGPC), Bhutan's state-owned utility, signed a Shareholders Agreement on Oct 5, 2026 to set up the 770 MW Chamkharchhu-I Hydropower Project in Bhutan. They will jointly incorporate a new company in Bhutan with 49:51 shareholding (APL:DGPC) under a BOOT model with a 30-year concession. Initial share issue: 4.9 million shares to APL and 5.1 million to DGPC at BTN 100 per share. Construction begins H1 2027, commissioning targeted within six years. This is the second project under the broader 5,000 MW partnership with the Royal Government of Bhutan, following the 570 MW Wangchhu project signed in September 2025.