Reliance Power Inks Agreement with Green Digital Private Limited
According to reports, Reliance Power signed an agreement with Green Digital Private Limited, a company owned by Bhutan’s government, to help build the country’s largest solar power plant. The project will generate 500 megawatts (MW) of electricity and marks a major step in boosting clean energy in the region.
The project is a 50-50 partnership between Reliance Power and Bhutan's Druk Holding and Investments (DHI), which is the primary investment arm of the government. The investment will reach as much as Rs 2,000 crore, making it the largest private funding in Bhutan’s solar industry to date.
The significant solar investment in Bhutan highlights Reliance Group’s strategic emphasis on broadening its renewable energy portfolio, while reinforcing its enduring commitment to enhancing India-Bhutan economic collaboration. Reliance Power’s overall clean energy portfolio comprises 2.5 GWp of solar and over 2.5 GWhr of BESS, establishing it as India’s leading participant in the integrated Solar + BESS sector.
The new solar facility is anticipated to benefit both nations, providing Bhutan with additional clean energy and enabling it to distribute power to neighboring countries, such as India. The power will be marketed via a long-term contract with Green Digital, stated the Anil Ambani-owned corporation in an exchange report.
Additionally, Reliance Power has begun seeking firms to construct the project, employing a competitive bidding process to ensure the work is executed effectively and at a fair price.
The firm is in discussions with banks and other financial institutions to secure funding for the initiative.
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The pact involved the collaborative advancement of a 500 MW solar energy initiative and the sustained implementation and management of the 770 MW Chamkharchhu-I hydroelectric venture. The hydro project, a run-of-the-river facility, operates under a long-term concession and supports Bhutan’s national energy objectives.