Adani Power and Bhutan’s state-owned Druk Green Power Corporation have signed a shareholders agreement to develop the 770 MW Chamkharchhu-I hydroelectric project in Bhutan. The signing took place on October 6 in the presence of Bhutan Prime Minister Tshering Tobgay.

The project will use a 49:51 equity split between Adani Power and DGPC. It will follow the build-own-operate-transfer model with a 30-year concession from the start of commercial operations.

The peaking run-of-river project sits on the Chamkharchhu river in Bhutan’s Zhemgang district. Construction is expected to begin in the first half of 2027, with commissioning targeted within six years of groundbreaking.

This is the partners’ second major hydropower collaboration after the 570 MW Wangchhu project agreed in September 2025. It also sits within a broader 5,000 MW hydropower partnership agreed with Bhutan’s government in May 2025.

Adani Power MD Anil Sardana said hydropower will play a pivotal role in South Asia’s energy transition. The project is expected to meet Bhutan’s winter power needs and allow surplus electricity to be exported to India during summer.