In Short:
Reliance Power, a part of Reliance Group, saw its shares rise 4.99% to ₹53.64 following a partnership with Bhutan’s Druk Holding and Investments Ltd. The deal, signed on October 2, 2024, includes plans for a 500 MW solar plant and a 770 MW hydropower project. This collaboration aims to boost Bhutan’s renewable energy and support its economic growth.
Exciting News for Renewable Energy!
Today at 11 am, **Reliance Power**, a dynamic subsidiary of the **Reliance Group**, saw its shares on the NSE rise to ₹53.64, an increase of ₹2.55 or 4.99%. This surge comes on the heels of a strategic partnership between **Reliance Group** and **Druk Holding and Investments Ltd. (DHI)**, the commercial arm of Bhutan’s government. Together, they’re set to embark on some groundbreaking renewable energy projects in the Himalayan kingdom!
Major Projects on the Horizon
The agreement, officially signed on October 2, 2024, lays out ambitious plans, including a massive 500 MW solar plant and a substantial 770 MW hydropower project. The solar plant, envisioned for **Gelephu Mindfulness City**, will come to life in two phases of 250 MW each over the next two years, making it Bhutan’s largest solar installation once complete. Alongside, the collaboration will also see the development of the **Chamkharchhu-1 hydro project**, marked as a run-of-the-river facility.
A New Venture for Green Energy
To lead these exciting initiatives, **Reliance Group** has launched **Reliance Enterprises**, a dedicated new company focused on promoting and investing in Bhutan’s clean and green energy sector. This venture is a joint effort between **Reliance Infrastructure Ltd.** and **Reliance Power Ltd.** and showcases their commitment to sustainable energy.
Impact on Bhutan’s Renewable Energy Landscape
This partnership is poised to be one of the largest foreign investments made by an Indian private company in Bhutan’s renewable energy sector. It syncs seamlessly with Bhutan’s ambitions for net-zero emissions and aims to bolster sustainable energy solutions across the nation.
Voices from the Partnership
**Ujjwal Deep Dahal**, CEO of DHI, shared his excitement about the collaboration, emphasizing how it taps into the collective strengths of both organizations to foster green energy development.
Supporting Bhutan’s Economic Growth
This joint venture is expected to significantly enhance Bhutan’s renewable energy capacity, which is currently pegged at **2,452 MW**. It’s not just about energy, though; it’s also about supporting Bhutan’s economic growth in alignment with its unique **Gross National Happiness Index** principles.
- Also read: Anil Ambani’s Reliance Group partners Bhutan’s Druk Holding for renewable and green energy projects
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