Anil Ambani-led Reliance Group has entered into a strategic partnership agreement with Druk Holding and Investments (DHI), the commercial and investment arm of the Royal Government of Bhutan, to undertake various initiatives aimed at bolstering the investment in the renewable and green energy landscape of Bhutan.
The partnership between Reliance Group and Druk Holding will focus on green energy generation, specifically solar and hydropower initiatives, while also exploring innovative green technologies.
Reliance Group announced the establishment of a new flagship company, Reliance Enterprises, dedicated exclusively to promoting investment in Bhutan’s renewable and green energy sector.
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Sustainable energy
Jointly promoted by Reliance Infrastructure and Reliance Power, Reliance Enterprises will focus on enhancing sustainable energy solutions and implementing smart distribution and metering systems throughout Bhutan.
The newly-formed Reliance Enterprises has partnered with Druk Holding to jointly develop a 500-MW solar power plant in Gelephu Mindfulness City, Bhutan. This project, set to be executed over the next two years in two phases of 250 MW each, will also mark the single largest investment in Bhutan’s renewable energy sector and the largest foreign direct investment (FDI) by an Indian company in the country.
Reliance Power and Druk Holding have also announced plans to jointly develop the 770-MW Chamkharchhu-1 hydro project.