Shares of Adani Power Ltd rose 5.75% to touch a day’s high of Rs 649.60 on 8th September, after the firm announced that it had signed an agreement with the Bhutan government-owned Druk Green Power to develop a 570 MW hydroelectric project in Bhutan.

In an exchange filing on 6th September, Adani Power said its subsidiary signed a Shareholders Agreement (SHA) with Druk Green Power Corp. Ltd. (DGPC), Bhutan’s state-owned utility. This was for setting up a 570 MW Wangchhu hydroelectric project. The developers also signed a Concession Agreement (CA) with the Royal Government of Bhutan.

Scope of the Project

The Wangchhu hydro project is part of Bhutan’s plan to add 15,000 MW of hydropower and 5,000 MW of solar capacity by 2040. It involves an investment of around Rs 6,000 crore in building the power plant and related infrastructure. Construction will begin in the first half of 2026 and is expected to take five years.

Adani Power CEO SB Khyalia said the project will help meet Bhutan’s peak winter demand. This is when hydropower output is low. While in summer, the surplus power will be exported to India.

Separately, Adani Power also received approval from the Ministry of Coal. This approval is to begin operations at the Dhirauli coal mine in Singrauli, Madhya Pradesh. The mine, operated by its subsidiary Mahan Energen Ltd, has a peak capacity of 6.5 million tonnes per annum (MTPA).

At 11:35 AM, the shares of Adani Power were trading 5.63% higher at Rs 644 on NSE.

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