Adani Power has signed a shareholders' agreement with Bhutan's state-owned Druk Green Power Corporation. The signing took place on 6 October.

The deal covers the 770MW Chamkharchhu-I Hydroelectric Project. It will come up on the Chamkarchhu River in Bhutan's Zhemgang district.

The plant will be a peaking run-of-river project.

Adani Power will hold 49 percent equity in the project. Druk Green Power Corporation will hold 51 percent.

The project follows a build-own-operate-transfer model. It carries a 30-year concession from the commercial operation date.

Construction is expected to begin in the first half of 2027. The plant could be commissioned within six years of groundbreaking.

Power from the project will meet Bhutan's winter peak demand. Surplus power will be exported to India in summer.

This is the second Adani-DGPC project after the 570MW Wangchhu project signed in September 2025. Both are part of a May 2025 memorandum of understanding for 5,000MW of Bhutan hydropower.

The signing was attended by Bhutan's Prime Minister Tshering Tobgay. Adani Power managing director Anil Sardana spoke about the project's role in energy security and sustainability goals.