Reliance Group and Druk Holding and Investments Ltd. are partners
INN/Chennai, @Infodeaofficial
In order to support investment in Bhutan’s renewable and green energy sector, the Anil Ambani-led Reliance Group and Druk Holding and Investments Ltd. (DHI), the commercial and investment branch of the Royal Government of Bhutan, entered into a strategic partnership agreement.
Reliance Group and Druk Holding will collaborate to create 500 MW of solar and 770 MW of hydropower projects in Bhutan. (DHI), the commercial and investment arm of the Royal Government of Bhutan, will oversee the development of these large solar and hydropower projects. The Reliance Group establishes “Reliance Enterprises,” a new business devoted to encouraging and funding Bhutan’s clean and green energy industry. One of the largest foreign direct investments (FDI) made by a private enterprise in Bhutan’s renewable energy sector, located in the Special Administrative Zone of Gelephu Mindfulness City.
KEY HIGHLIGHTS
Reliance Group establishes Reliance Enterprises, a new business devoted solely to encouraging investment in Bhutan’s renewable and green energy industry.
Reliance Infrastructure Ltd. and Reliance Power Ltd. jointly promote Reliance Enterprises.
500 megawatt solar power plant Reliance Power Ltd. and Druk Holding will collaborate to jointly develop the 770 MW Chamkharchhu-1 hydro project, which will be carried out over the course of the next two years in two phases of 250 MW each.
In line with RGOB policy, it is categorised as a run-of-the-river project and operates on a concession basis.
In addition to investigating cutting-edge green technology, the partnership between Reliance Group and Druk Holding will concentrate on green energy generation, particularly solar and hydropower projects. Reliance Group will work with Bhutanese government-owned businesses to carry out infrastructure projects that help the country achieve its net-zero objectives.
Mr Anil Ambani witnessed the signing of the cooperation agreement between Mr Harmanjit Singh Nagi, President (Corporate Development), Reliance Power Ltd., and Mr Ujjwal Deep Dahal, CEO, Druk Holding and Investments.