The government of Bhutan and Reliance Group announced a strategic partnership to build solar and hydropower projects. This is the largest foreign direct investment by a private company in the renewable energy industry in the Himalayan nation.

The Anil Ambani-led Reliance Group and Druk Holding and Investments Ltd., the commercial and investment arm of the Bhutanese government, are collaborating to develop 500 megawatts (MW) of solar and 770 MW of hydropower projects in Bhutan.

According to a news statement, the 500-MW solar facility in Bhutan’s Gelephu Mindfulness City would be built in two phases of 250 MW each over the course of the following two years. When finished, the solar facility will be the biggest of its kind in the nation, larger than all of the current solar installations. It will provide clean, renewable energy to lessen the effects of climate change.

The release further stated that Reliance Power Ltd and Druk Holding will collaborate to create the 770-MW Chamkharchhu-1 Hydro Project in addition to the solar project. In compliance with Bhutanese government policy, this project is classed as a run-of-the-river project under a concession model.

The statement added, “The partnership between Reliance Group and Druk Holding will focus on green energy generation, specifically solar and hydropower initiatives, while also exploring innovative green technologies. Reliance Group will collaborate with government-owned companies in Bhutan to implement infrastructure projects that support Bhutan’s net-zero goals.”

In order to encourage investment in Bhutan’s renewable and green energy industry, Reliance Group recently announced the creation of a new flagship firm, Reliance Enterprises. In Bhutan, the company, which is being jointly promoted by Reliance Infrastructure Ltd and Reliance Power, will concentrate on improving sustainable energy solutions and putting smart distribution and metering systems in place.

Ready to invest like a pro? Unicorn Signals app equips you with 100+ Free tools and knowledge you need to succeed. Download the Unicorn Signals app and gain access to daily stock lists and insightful market analysis and much more!