Latest news with #DrukHoldingandInvestmentsLtd
Mint
5 days ago
- Business
- Mint
2400% gain in five years: Reliance Power share price delivers multibagger returns. Should you buy?
R Power share price: Shares of Reliance Power jumped 4% to touch a fresh 52-week high on Thursday's session. R Power share price surged by 5.45%, hitting a peak of ₹ 62.12 in trading on Wednesday. At that peak, the stock was only 1.08% below its one-year high of ₹ 62.80, which was recorded just a few days earlier on June 2. Reliance Power share price today opened at ₹ 60.30 apiece on the BSE, the stock touched an intraday high of ₹ 63.39 per share, and an intraday low of ₹ 59.93 apiece. R Power share price has experienced significant growth, rising more than 2,400% over the last five years. It has surged nearly 79% in just three months and approximately 51% in the past month. Recently, Reliance Power announced that its subsidiary, Reliance NU Energies, has been awarded a letter for a 350 MW solar power project, which includes a 175 MW/700 MWh Battery Energy Storage System from SJVN. When operational, this project will enhance Reliance Power's portfolio by adding 600 MW of solar DC capacity and 700 MWh of BESS capacity, thereby reaffirming its position as a leader in new energy solutions, according to a company statement. In addition, Reliance Power has established a commercial term sheet for a long-term power purchase agreement with Green Digital Pvt Ltd, which is owned by Druk Holding and Investments Ltd, the investment branch of the Royal Government of Bhutan. Reliance Power and Druk Holding and Investments Ltd (DHI) plan to jointly construct Bhutan's largest solar power project through a partnership with an equal share, targeting an installed capacity of 500 MW, as indicated by a company statement. The project will require an investment of up to ₹ 2,000 crores under a Build-Own-Operate (BOO) model, making it the largest private sector foreign direct investment (FDI) in Bhutan's solar energy field so far. In the January-March quarter of FY25, Reliance Power reported a consolidated net profit of ₹ 126 crore, attributed to reduced expenses. The company had experienced a loss of ₹ 397.56 crore during the quarter that ended on March 31, 2024, according to a regulatory filing. Total revenue fell to ₹ 2,066 crore in the most recent fourth quarter, down from ₹ 2,193.85 crore in the same quarter last year. According to Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, R Power share price has seen massive run from the May month swing low and is at highest point in the last five years, this recent upmove has been backed with strong volumes. In near term prices may extend upmove however considering the overbought conditions, dips would be ideal to enter longs, ₹ 56 - 57 seems strong support whereas ₹ 72 as resistance.
The Hindu
19-05-2025
- Business
- The Hindu
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.
Express Tribune
17-04-2025
- Business
- Express Tribune
Bhutan turns to 'green' cryptocurrency
Listen to article The Himalayan nation of Bhutan is exploring ways to mine and leverage green cryptocurrencies using hydropower to boost its economy and create jobs to reduce brain drain, the chief executive of its sovereign wealth fund said. Green cryptocurrencies are digital currencies mined using clean energy resources such as wind, hydro or solar power instead of fossil fuel. Bhutan has earned millions of dollars in recent years by investing in some of the world's most popular cryptocurrencies and used some of its profit to pay government salaries for two years, two senior officials in Thimphu said. "We are a nation that runs 100% on hydropower, and every digital coin we mine in Bhutan using hydropower offsets that coin which gets mined using fossil fuels," said Ujjwal Deep Dahal, the CEO of the fund, Druk Holding and Investments Ltd.
Yahoo
17-04-2025
- Business
- Yahoo
Bhutan turns to 'green' cryptocurrency to fuel economy
By Rupam Jain NEW DELHI (Reuters) - The Himalayan nation of Bhutan is exploring ways to mine and leverage green cryptocurrencies using hydropower to boost its economy and create jobs to reduce brain drain, the chief executive of its sovereign wealth fund said. Green cryptocurrencies are digital currencies mined using clean energy resources such as wind, hydro or solar power instead of fossil fuel. Sandwiched between Asian giants India and China, Bhutan has earned millions of dollars in recent years by investing in some of the world's most popular cryptocurrencies and used some of its profit to pay government salaries for two years, two senior officials in Thimphu, the capital said. "We are a nation that runs 100% on hydropower, and every digital coin we mine in Bhutan using hydropower offsets that coin which gets mined using fossil fuels," said Ujjwal Deep Dahal, the CEO of the fund, Druk Holding and Investments Ltd. "So a coin mined in Bhutan will contribute to the green economy," he told Reuters on Tuesday. Dahal said the fund, which controls Bhutan's only power generation utility, began adding cryptocurrencies to its portfolio in 2019, seeing virtual currencies as a tactical investment and a gamechanger for the country. Bhutan is famed for its Gross National Happiness (GNH) index, an economic gauge that incorporates factors ignored by the usual measures of gross domestic product, such as recreation, emotional well-being and sustainability. It uses hydropower to operate energy-guzzling supercomputers to create digital assets that can be added to the blockchain. Officials are exploring whether large conglomerates could buy Bhutan's "green" coins to meet their targets on environmental, social and governance (ESG) norms. "Bitcoin has not just given more value to hydropower energy, it has also increased access to liquidity in foreign currency," said Dahal, who added that training Bhutan's young people in blockchain and AI techniques would fuel jobs. The nation of about 800,000 is battling an exodus of young, educated people. The government estimates that more than a tenth of its young people sought greener pastures between 2022 and 2023, taking unemployment in that age group to 16.5% in 2024. Analysts said Bhutan's ambitious plan to become the capital of green digital currency depends on expanding its hydropower generation to a potential of 33 gigawatts versus existing capacity of about 3.5 gigawatts. "We have plans to generate 15 gigawatts in the next 10 to 15 years," Dahal added. Sign in to access your portfolio
Reuters
17-04-2025
- Business
- Reuters
Bhutan turns to 'green' cryptocurrency to fuel economy
NEW DELHI, April 17 (Reuters) - The Himalayan nation of Bhutan is exploring ways to mine and leverage green cryptocurrencies using hydropower to boost its economy and create jobs to reduce brain drain, the chief executive of its sovereign wealth fund said. Green cryptocurrencies are digital currencies mined using clean energy resources such as wind, hydro or solar power instead of fossil fuel. Make sense of the latest ESG trends affecting companies and governments with the Reuters Sustainable Switch newsletter. Sign up here. Sandwiched between Asian giants India and China, Bhutan has earned millions of dollars in recent years by investing in some of the world's most popular cryptocurrencies and used some of its profit to pay government salaries for two years, two senior officials in Thimphu, the capital said. "We are a nation that runs 100% on hydropower, and every digital coin we mine in Bhutan using hydropower offsets that coin which gets mined using fossil fuels," said Ujjwal Deep Dahal, the CEO of the fund, Druk Holding and Investments Ltd. "So a coin mined in Bhutan will contribute to the green economy," he told Reuters on Tuesday. Dahal said the fund, which controls Bhutan's only power generation utility, began adding cryptocurrencies to its portfolio in 2019, seeing virtual currencies as a tactical investment and a gamechanger for the country. Bhutan is famed for its Gross National Happiness (GNH) index, an economic gauge that incorporates factors ignored by the usual measures of gross domestic product, such as recreation, emotional well-being and sustainability. It uses hydropower to operate energy-guzzling supercomputers to create digital assets that can be added to the blockchain. Officials are exploring whether large conglomerates could buy Bhutan's "green" coins to meet their targets on environmental, social and governance (ESG) norms. "Bitcoin has not just given more value to hydropower energy, it has also increased access to liquidity in foreign currency," said Dahal, who added that training Bhutan's young people in blockchain and AI techniques would fuel jobs. The nation of about 800,000 is battling an exodus of young, educated people. The government estimates that more than a tenth of its young people sought greener pastures between 2022 and 2023, taking unemployment in that age group to 16.5% in 2024. Analysts said Bhutan's ambitious plan to become the capital of green digital currency depends on expanding its hydropower generation to a potential of 33 gigawatts versus existing capacity of about 3.5 gigawatts. "We have plans to generate 15 gigawatts in the next 10 to 15 years," Dahal added.
