Adani Power share price surged as much as 5 per cent to ₹638.90 apiece in Monday’s trading session after the company announced it has signed a shareholders agreement with Bhutan’s Druk Green Power.
Adani Power shares have given significant returns in the last one year. The Adani Group stock has gained 10 per cent in a month and 27 per cent in six months.
Adani Group agreement with Bhutan’s Druk Green Power
In an exchange filing dated June 6, Adani Power said it has signed a shareholders’ agreement with Bhutan’s state-owned utility, Druk Green Power Corp, for setting up a 570 MW hydroelectric project at Wangchhu in Bhutan.
Both companies will jointly incorporate a public company with 49:51 shareholding in Bhutan to undertake the project.
“We would like to inform that Adani Power Limited (“the Company” or “APL”) and Druk Green Power Corp. Ltd. (“DGPC”), Bhutan’s state-owned utility, have signed the shareholders agreement (SHA) for setting up a 570 MW hydroelectric project at Wangchhu in Bhutan (“Project”). The SHA was signed on September 05, 2025, at 8:30 p.m.,” the company said in the filing.
It is further informed that both companies have the right to appoint three directors each on the Board of the project company.
The Wangchhu project will see an investment of about INR 60 billion in setting up the renewable energy power plant and related infrastructure. With the preparation of the detailed project report already completed, construction work is expected to begin by the first half of 2026, and the completion is targeted within five years of groundbreaking.
“Bhutan is a role model for the world in sustainable development, and we are very excited to play a leading role in the development of the country’s natural resources through this renewable energy project. The Wangchhu hydroelectric project will critically meet Bhutan’s peak winter demand, when hydro power generation is low. During the summer months, it would export power to India,” said SB Khyalia, CEO, Adani Power.
The Wangchhu is the first hydroelectric project to be taken up under an MoU that was signed in May 2025 between the Adani Group and DGPC for jointly developing 5,000 MW of hydropower in Bhutan. Adani Group and DGPC are engaged in further discussions for future projects under this strategic partnership, the company said.