Mumbai: Indian billionaire Gautam Adani’s company Adani Power has joined hands with the Government of Bhutan to develop a large hydroelectric project. On Saturday, the company informed Indian stock exchanges that it has signed an agreement with Bhutan’s state-owned Druk Green Power for the Wangchhu Hydroelectric Project.
Project Details
Under this agreement, Adani Power will develop the 570 MW Wangchhu Hydroelectric Project on Bhutan’s Wangchhu river. The river flows from Bhutan into India’s Assam state and then merges with the Brahmaputra. Around Rs 6,000 crore will be invested in building the project. Work will start after July 2026, and the target is to complete it within five years.
Bhutan’s Clean Energy Goals
Bhutan is strongly focused on clean energy. The country aims to add 15,000 MW of extra hydropower and 5,000 MW of solar power capacity by 2040. This new project is part of that long-term plan, with Adani Power playing a major role.
Adani Power’s Market Performance
Adani Power currently has a market cap of Rs 2.35 lakh crore. On Friday, its share price closed at Rs 609, up 0.7 percent. The stock has been giving steady returns to investors, rising 19 percent in six months, 11 percent in three months, 5 percent in one month, and 1percent in the past week.
Disclaimer: This article is for informational purposes only and should not be taken as investment advice. Stock market investments are subject to risks. Please consult a financial advisor before investing.
