On October 3, shares of Reliance Power and Reliance Infrastructure, both led by Anil Ambani, saw significant growth, with Reliance Power rising by 5% to ₹53.64 on the NSE, and Reliance Infra climbing by 2.4% to ₹339.80. This surge came after the group’s foray into Bhutan’s renewable energy sector through a joint venture with Druk Holding and Investments (DHI), the commercial arm of Bhutan’s government.
The partnership, announced on October 2, 2024, will see the development of two major renewable energy projects in Bhutan: a 500 MW solar power plant and a 770 MW hydroelectric project. The solar plant, to be constructed in Gelephu Mindfulness City, will be Bhutan’s largest solar installation once completed. The hydro project, Chamkharchhu-1, will be a run-of-the-river facility, boosting Bhutan’s clean energy capacity.
This collaboration is a significant foreign direct investment by an Indian private company in Bhutan’s renewable energy sector, aligning with Bhutan’s sustainability goals. The new ventures will also enhance Bhutan’s renewable energy capacity, which currently stands at 2,452 MW. The initiative will contribute to the country’s economic growth while maintaining its commitment to the Gross National Happiness Index.
This strategic move by Reliance Group reinforces its commitment to expanding its green energy footprint, marking a notable milestone in Indo-Bhutan energy cooperation.
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