Adani Power Rallies After Signing 570 MW Hydropower Deal in Bhutan

Adani Power

surged around 4–5% on September 8 following the announcement of a major strategic expansion into hydropower. The company signed a Shareholders’ Agreement (SHA) with Bhutan’s state-owned Druk Green Power Corporation (DGPC) for the Wangchhu hydropower project. Under the pact, Adani Power will hold a 49% stake, with DGPC retaining 51% This ₹6,000 crore (INR 60 billion) venture is structured under a BOOT (Build-Own-Operate-Transfer) model, designed to serve Bhutan’s peak winter demand and export surplus power to India during summer. The SHA was signed on September 5, 2025, and the detailed project report is already complete. Construction is expected to begin in the first half of 2026, with a five-year timeline to completion As Adani Power’s first hydroelectric project and the initial rollout under a broader 5,000 MW hydropower MOU with Bhutan, this marks a pivotal move in its clean energy diversification At ~₹640 on the BSE, the stock rose about 5%, boosting investor sentiment amid ongoing energy transitions Why this matters Diversification play: A strategic entry into hydro strengthens Adani Power’s renewable footprint beyond thermal assets Regional collaboration: Reinforces Indo-Bhutan energy diplomacy and cross-border infrastructure ties Long-term value: Hydropower’s reliability and export potential could yield steadier returns and balance Adani’s generation mix