Latest news with #DGPC
Business Recorder
14-05-2025
- Business
- Business Recorder
DGPC provisionally awards 10 onshore exploration blocks to MariEnergies
The Directorate General of Petroleum Concessions (DGPC) has provisionally awarded 10 new onshore exploration blocks to MariEnergies, one of Pakistan's largest exploration and production (E&P) companies. 'These blocks have been awarded after competitive bidding on the basis of work units committed by various E&P companies in the Pakistan E&P Onshore Bid Round 2025 (30th April 2025) conducted by the DGPC,' MARI said in its notice to the Pakistan Stock Exchange (PSX) on Wednesday. According to the notice, MARI will operate seven blocks as an operator. At the same time, the remaining three will be developed under joint venture (JV) arrangements— 'one each with Oil and Gas Development Company Limited (OGDCL), Pakistan Petroleum Limited (PPL) and Prime Global Energies Limited (Prime) as operators in respective blocks'. It added that Government Holdings Pvt Ltd (GHPL) and Turkish Petroleum Overseas Company (TPOC) are also JV Partners. Out of the 10 blocks awarded, eight are located in Balochistan, namely, Ziarat North, Ahmad Wal, Padag, Chagai, Dalbandin, Merui Merui West and Kalat South. The remaining two, i.e. Khiu-II and Sukhpur-II, are located in Punjab and Sindh, respectively. The E&P, formerly Mari Petroleum Company Limited (MARI), said that the formal award of petroleum rights in the blocks is conditional on i. Grant of petroleum exploration licenses by the government ii. Execution of petroleum concession agreements with the government iii. Execution of joint operating agreements among the respective JV Partners and the completion of related legal/procedural formalities. 'The acquisition of the new exploration blocks aligns with our strategic objective of expanding our acreage to add new hydrocarbon resources for the company and to support Pakistan's long-term energy security and self-reliance,' said MARI. Earlier this month, MARI discovered gas production from its Soho-1 exploratory well in the Sujawal Block in Sindh.
Time of India
08-05-2025
- Business
- Time of India
Adani Group inks pact with Bhutan co
The Adani Group and Bhutan's Druk Green Power Corporation (DGPC) have partnered to develop 5,000 MW of hydropower projects in Bhutan. This agreement expands their existing collaboration on the Wangchhu Hydropower Project. The initiative supports Bhutan's goal of achieving 20,000 MW of renewable energy capacity by 2040, focusing on hydropower and pumped storage projects. Tired of too many ads? Remove Ads Mumbai: The Adani Group on Thursday said it has signed a memorandum of understanding (MoU) with Bhutan's Druk Green Power Corporation (DGPC) to jointly develop 5,000 MW of hydropower projects in Bhutan. The MoU builds on the ongoing partnership for 570/900 MW Wangchhu Hydropower Project, in which DGPC will hold 51% stake and the Adani Group will hold 49%."The broader 5,000 MW initiative will encompass additional hydropower and pumped storage projects to be identified, Detailed Project Reports prepared, and taken forward for implementation in phases," the company said in a press initiative aligns with Bhutan's Renewable Energy Roadmap, which aims to achieve an additional 20,000 MW of generation capacity by 2040.
India Gazette
08-05-2025
- Business
- India Gazette
Bhutan signs MoU with Adani for 5,000 MW hydropower development
Ahmedabad (Gujarat) [India], May 8 (ANI): The Adani Group and the Druk Green Power Corporation (DGPC) of Bhutan have signed a landmark Memorandum of Understanding (MoU) to develop 5,000 MW of hydropower projects in Bhutan jointly. The MoU was signed in Thimphu by DGPC's MD Dasho Chhewang Rinzin and Adani Green Hydro Ltd's COO (PSP & Hydro) Naresh Telgu in the presence of the Prime Minister Dasho Tshering Tobgay, Minister for Energy and Natural Resources Lyonpo Gem Tshering and other dignitaries. The MoU builds on the ongoing partnership for the 570/900 MW Wangchhu Hydropower Project, in which DGPC will hold a majority 51 per cent stake and Adani will hold 49 per cent. The broader 5,000 MW initiative will encompass additional hydropower and pumped storage projects to be identified, Detailed Project Reports prepared, and taken forward for implementation in phases. 'This partnership reflects our deep commitment to developing clean energy infrastructure that enhances regional energy security,' said Naresh Telgu, COO (PSP & Hydro), Adani Green Hydro Ltd. Together with DGPC, he said they are enabling Bhutan to harness its hydropower potential and export reliable green energy to India. 'This is a powerful example of cross-border collaboration in pursuit of shared sustainable development goals,' he said. Dasho Chhewang Rinzin, MD DGPC said that the strategic partnership with Adani will further strengthen their very strong engagement with the Government of India in harnessing Bhutan's abundant hydropower resources, 'which is considered as the cornerstone of the exemplary and friendly relations between our two countries.' 'We look forward to taking this partnership forward with Adani and learning from their huge successes across the globe,' he said. DGPC is Bhutan's premier hydropower developer, has decades of experience in managing the nation's renewable energy resources. It plays a pivotal role in Bhutan's clean energy journey, contributing to both domestic energy security and sustainable development. Through such partnerships, DGPC is also helping to strengthen Bhutan's position in regional energy cooperation. The Adani Group, India's leading infrastructure and renewable energy player which brings its extensive expertise in project development, financing, and market access. It will support Bhutan in scaling up its hydropower capacity and facilitating access to Indian energy markets. As part of this collaboration, Adani will ensure reliable power offtake and integration with India's commercial power markets, further reinforcing Bhutan's role in the regional energy trade. The partnership is strongly backed by the Royal Government of Bhutan and the Government of India, underscoring a shared vision for clean energy growth and economic integration. This initiative also aligns with Bhutan's Renewable Energy Roadmap, which aims to achieve and additional 20,000 MW of generation capacity by 2040. The roadmap prioritises diversification into solar and geothermal energy, and also encourages strategic partnerships to attract investment and innovation. In a further milestone, DGPC and Adani also initialled the Shareholders' Agreement for the Wangchhu Project, marking significant progress in their collaborative efforts to advance Bhutan's hydropower sector. (ANI)
Mint
08-05-2025
- Business
- Mint
Adani, Druk Green Power sign MoU for 5,000 MW of hydro projects in Bhutan
New Delhi: Adani Group and the Druk Green Power Corp. (DGPC) have signed a memorandum of understanding (MoU) to jointly develop 5,000 MW of hydropower projects in Bhutan. DGPC is a subsidiary of Druk Holding and Investments Ltd, Bhutan's government-owned holding company with investments across sectors such as manufacturing, energy, natural resources, financial services, and communication. Also read: Centre alerts world's largest solar park, and RIL's biggest global refinery as tensions with Pakistan escalate The MoU was signed in Thimphu, Bhutan's capital, by DGPC's managing director, Dasho Chhewang Rinzin and Adani Green Hydro Ltd's chief operating officer (PSP & Hydro) Naresh Telgu. This tie-up builds on the ongoing partnership for the 570/900 MW Wangchhu Hydropower Project, in which DGPC will hold a majority 51% stake and Adani will hold 49%. An official statement from the Adani Group said that the broader 5,000 MW initiative will encompass additional hydropower and pumped storage projects to be identified, detailed project reports prepared, and taken forward for implementation in phases. 'This partnership reflects our deep commitment to developing clean energy infrastructure that enhances regional energy security," said Naresh Telgu, COO (PSP & Hydro), Adani Green Hydro Ltd. Also read: Cabinet approves fresh coal linkages to boost procurement and capacity addition by thermal plants amid high power demand Rinzin said, 'This strategic partnership with Adani will further strengthen our very strong engagement with the Government of India in harnessing Bhutan's abundant hydropower resources, which is considered the cornerstone of the exemplary and friendly relations between our two countries." As part of this collaboration, Adani Group will ensure reliable power offtake and integration with India's commercial power markets, further reinforcing Bhutan's role in the regional energy trade. The partnership is strongly backed by the Royal Government of Bhutan and the Indian government, underscoring a shared vision for clean energy growth and economic integration. India has been a key partner in Bhutan's energy space. State-run NHPC is looking to form a joint venture to develop hydro projects there. In November, Tata Power also forged a partnership with DGPC to develop a minimum of 5,000 MW of clean energy generation capacity in the Himalayan nation. Also read: India-UK FTA a shot in the arm for India's green energy manufacturing space The MoU between Adani Group and DGPC aligns with Bhutan's Renewable Energy Roadmap, which aims to achieve an additional 20,000 MW of generation capacity by 2040. The road map prioritizes diversification into solar and geothermal energy, and also encourages strategic partnerships to attract investment and innovation.
NDTV
08-05-2025
- Business
- NDTV
Adani Group Signs Pact With Bhutan's Druk Green Power Corporation For 5,000 MW Of Hydropower Project
Ahmedabad: Chairman of Adani Group, Gautam Adani, on Thursday, thanked Prime Minister of Tshering Tobgay after Adani Group and the Druk Green Power Corporation (DGPC) of Bhutan signed a landmark Memorandum of Understanding (MoU) to develop 5,000 MW of hydropower projects in Bhutan jointly. In a post on X, Chairman of Adani Group, Gautam Adani said, "Honoured to deepen our partnership with Bhutan. We are committed to a greener and more prosperous future. Thank you @PMBhutan @tsheringtobgay for your trust and vision." Honoured to deepen our partnership with Bhutan. We are committed to a greener and more prosperous future. Thank you @PMBhutan @tsheringtobgay for your trust and vision. 🙏 — Gautam Adani (@gautam_adani) May 8, 2025 The MoU was signed in Thimphu by DGPC's MD Dasho Chhewang Rinzin and Adani Green Hydro Ltd's COO (PSP & Hydro) Naresh Telgu in the presence of the Prime Minister Dasho Tshering Tobgay, Minister for Energy and Natural Resources Lyonpo Gem Tshering and other dignitaries. As part of this collaboration, Adani will ensure reliable power offtake and integration with India's commercial power markets, further reinforcing Bhutan's role in the regional energy trade. The partnership is strongly backed by the Royal Government of Bhutan and the Government of India, underscoring a shared vision for clean energy growth and economic integration. The MoU builds on the ongoing partnership for the 570/900 MW Wangchhu Hydropower Project, in which DGPC will hold a majority 51 per cent stake and Adani will hold 49 per cent. The broader 5,000 MW initiative will encompass additional hydropower and pumped storage projects to be identified, Detailed Project Reports prepared, and taken forward for implementation in phases. This initiative also aligns with Bhutan's Renewable Energy Roadmap, which aims to achieve and additional 20,000 MW of generation capacity by 2040. The roadmap prioritises diversification into solar and geothermal energy, and also encourages strategic partnerships to attract investment and innovation. In a further milestone, DGPC and Adani also initialled the Shareholders' Agreement for the Wangchhu Project, marking significant progress in their collaborative efforts to advance Bhutan's hydropower sector. DGPC is Bhutan's premier hydropower developer, has decades of experience in managing the nation's renewable energy resources. It plays a pivotal role in Bhutan's clean energy journey, contributing to both domestic energy security and sustainable development. Through such partnerships, DGPC is also helping to strengthen Bhutan's position in regional energy cooperation. The Adani Group, India's leading infrastructure and renewable energy player which brings its extensive expertise in project development, financing, and market access. It will support Bhutan in scaling up its hydropower capacity and facilitating access to Indian energy markets. (Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
