Reliance Power Limited has signed a commercial term sheet for a long-term power purchase agreement (PPA) with Green Digital Private Limited (GDL), a company owned by Druk Holding and Investments Limited (DHI), the investment arm of the Royal Government of Bhutan.
Under the agreement, Reliance Power and DHI will jointly develop Bhutan’s largest solar power project through a 50:50 joint venture. The 500 MW project, with an estimated capital outlay of up to Rs 20 billion, represents the largest foreign direct investment in Bhutan’s solar energy sector to date. The project will follow a build own operate model and will be implemented in phases over the next 24 months.