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Business Upturn
19-05-2025
- Business
- Business Upturn
Reliance Power shares jump 2% as company signs commercial term sheet for long-term power purchase agreement with Green Digital, Bhutan
By Aman Shukla Published on May 19, 2025, 10:10 IST Reliance Power shares surged over 2% in early trade after the company signed a commercial term sheet for a long-term Power Purchase Agreement (PPA) with Green Digital Private Limited (GDL), a subsidiary of Bhutan's Druk Holding and Investments Limited (DHI). As of 10:08 AM, the shares were trading 2.68% higher at Rs 46.28. This milestone agreement paves the way for Bhutan's largest solar power project — a 500 MW plant to be developed under a 50:50 joint venture between Reliance Power and DHI. The Build-Own-Operate (BOO) model project will see an estimated investment of INR 2,000 crore, marking the largest foreign direct investment (FDI) in Bhutan's solar energy sector by a private entity. Reliance Power has already initiated the EPC tendering process through international competitive bidding to ensure cost efficiency and high-quality execution. Financing discussions are underway with top financial institutions to secure long-tenor, sustainable project funding. The project will be executed in phases over 24 months and is expected to significantly boost Bhutan's solar capacity, reducing reliance on hydropower and supporting South Asia's clean energy transition. This initiative builds on the October 2024 strategic partnership between Reliance Enterprises (a JV of Reliance Power and Reliance Infrastructure) and DHI, which also includes the development of the 770 MW Chamkharchhu-I hydroelectric project. With a clean energy pipeline of 2.5 GWp solar and 2.5 GWh Battery Energy Storage Systems (BESS), Reliance Power is strengthening its position as a major player in India's renewable energy sector. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Mint
19-05-2025
- Business
- Mint
Anil Ambani group stock Reliance Power gains 4% on ₹2,000 crore solar power project from Bhutan. Details here
Anil Ambani group stock Reliance Power hogged the limelight in trade on Monday, May 19, after the company announced entering into an agreement with Green Digital Private Limited, owned by the government of Bhutan, to develop the country's largest 500 MW solar power project through a 50:50 joint venture. Following the project win, Reliance Power share price jumped nearly 4% in intraday trade today. Reliance Power, in an exchange filing earlier today, said it has signed a commercial term sheet for a long-term power purchase agreement (PPA) with Green Digital Private Limited (GDL), owned by Druk Holding and Investments Limited (DHI), the investment arm of the Royal Government of Bhutan. Under the agreement, 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 outlay of up to ₹ 2,000 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 Anil Ambani-owned company said in a filing. Reliance Power's total clean energy pipeline stands at 2.5 GWp solar and over 2.5 GWhr BESS, making it India's largest player in the integrated Solar + BESS segment, the company claimed. The project, which will be implemented in phased tranches over the next 24 months, is expected to redefine Bhutan's solar generation capacity, surpassing all current solar installations. 'The landmark solar investment in Bhutan underscores Reliance Group's strategic focus on expanding its renewable energy portfolio, while reinforcing its long-term commitment to strengthening India-Bhutan economic cooperation,' Reliance Power said in a filing today. Reliance Power share price rose as much as 3.6% to the day's high of ₹ 46.72 on the BSE today. With today's gains, Reliance Power stock is up almost 16% in May. Meanwhile, in the last one year, the Anil Ambani group stock has gained as much as 77%. According to Anshul Jain, Head of Research at Lakshmishree Investments, RPower is forming a 34-week-long flat base on the weekly charts, showing signs of bullish consolidation. Volume behaviour supports accumulation, with higher volumes on up weeks and lower volumes on down weeks, he said. 'The daily, weekly, and monthly moving averages are aligned positively, reinforcing the bullish structure. A breakout above the resistance level of 48.5 will confirm the pattern and is likely to propel the stock towards the 65 zone in the short term,' Jain added. Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
