Anil Ambani-led Reliance Group announced its foray into Bhutan on Wednesday, October 2. The group said it plans to set up 1,270 MW of solar and hydroelectric projects in the Himalayan country. Under this scheme, Reliance Group has entered into a strategic partnership with Druk Holding and Investments Limited (DHI), the commercial and investment arm of the Royal Government of Bhutan. This partnership is aimed at promoting green energy production in Bhutan, with the main focus being on solar and hydroelectric projects. Besides this, innovative green technology will also be increased.
Reliance Group has set up Reliance Enterprises, a jointly promoted company by Reliance Infrastructure Limited and Reliance Power Limited, to facilitate investment in the renewable energy sector in Bhutan.
Over the next 2 years, Reliance Enterprises will set up a 500 MW solar plant in Galephu Mindfulness City in Bhutan, which will be divided into two phases. This will be the largest solar plant in Bhutan.
Additionally, Reliance Power and Druk Holding will also collaborate on the 770 MW Chamkharchhu-1 Hydroelectric Project, which is a run-of-the-river project in line with the policy of the Government of Bhutan. This will be the largest foreign investment in Bhutan’s renewable energy segment, and the largest direct investment by an Indian company there.
“This partnership is committed to realizing world-class clean energy projects for both Bhutan and India,” said Ujjwal Deep Dahal, CEO of DHI. Reliance Group said in a statement that its initiative reflects a long-term commitment towards promoting Bhutan’s economic growth and the well-being of its people, taking inspiration from Bhutan’s Gross National Happiness Index.
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