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Mumbai-based Reliance Power Limited 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. The agreement marks a significant milestone in regional clean energy collaboration across South Asia.

Reliance Power and DHI will jointly develop Bhutan’s largest solar power project through a 50:50 joint venture, with an installed capacity of 500 megawatts (MW). The project involves a capital outlay of up to Rs 20,000 million under a Build-Own-Operate model, representing the largest foreign direct investment in Bhutan’s solar energy sector.

The company has commenced the Engineering, Procurement, and Construction (EPC) tender process following international competitive bidding standards to ensure technical excellence and cost efficiency. Engagement with financial institutions is underway to structure sustainable project finance solutions.

This landmark solar initiative complements Reliance Power’s expanding clean energy portfolio, which includes 2.5 gigawatt peak (GWp) solar and more than 2.5 gigawatt hour (GWh) battery energy storage systems (BESS). The project aligns with Bhutan’s national energy strategy and aims to diversify its renewable sources beyond hydropower.

Source:Reliance Power Limited Media Release