Adani Power and Bhutan's state-owned utility, Druk Green Power Corporation (DGPC), have signed a Shareholders Agreement (SHA) to develop the 570 MW Wangchhu hydroelectric project. 

This agreement, signed on September 6, 2025, in the presence of Bhutan's Prime Minister, Dasho Tshering Tobgay, and Adani Group Chairman, Gautam Adani, marks a significant step in regional energy cooperation.

The project, which will be developed on a BOOT (Build, Own, Operate, Transfer) model with an investment of approximately Rs 6,000 crore, is designed to meet Bhutan's peak winter demand while exporting surplus power to India during the summer. 

This collaboration is part of a broader MoU signed in May 2025 between the two entities to jointly develop 5,000 MW of hydropower in Bhutan, strengthening grid connectivity and energy security for both nations.