Reliance Power signs PPA with Green Digital, Bhutan
Reliance Power Ltd. said it had signed commercial term sheet for long-term Power Purchase Agreement (PPA) with Green Digital Private Ltd. (GDL), owned by Druk Holding and Investments Ltd. (DHI), the investment arm of the Royal Government of Bhutan.
Reliance Power and DHI will jointly develop Bhutan's largest solar power project through a 50:50 venture, with an installed capacity of 500 MW. The project entails a capital outlayof up to ₹2000 crore under Build-Own-Operate (BOO) model, representing the largest private sector foreign direct investment (FDI) in Bhutan's solar energy sector to date.
The project will be implemented in phased tranches over the next 24 months, closely aligned with Bhutan's sustainability framework, and broader regional energy transition agenda across South Asia. In October 2024, Reliance Enterprises, jointly promoted by Reliance Power Ltd, and Reliance Infrastructure Ltd. initiated a partnership with Druk Holding and Investments Ltd to develop solar and hydropower projects in Bhutan.
As part of the agreement, Reliance Enterprises and Druk Holding and Investments Ltd. will jointly develop a 500 MW solar power project.
The partnership also entails the execution and long-term operation of 770 MW Chamkharchhu-I hydroelectric project, a run-of-the-river asset structured under a long-term concession model, aligned with Bhutan's national energy strategy.
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