Reliance Power signs commercial term sheet for PPA with Green Digital

Reliance Power Ltd. | Power Generation/Distribution | Power | BSE: 532939 | NSE: RPOWER

19 May 2025 Evaluate

Reliance Power has signed commercial term sheet for long-term Power Purchase Agreement (PPA) with Green Digital (GDL), owned by Druk Holding and Investments (DHI), the investment arm of the Royal Government of Bhutan. This groundbreaking initiative is expected to play a pivotal role in advancing regional clean energy integration, and enhancing cross-border infrastructure collaboration across South Asia.

Reliance Power and DHI will jointly develop Bhutan’s largest solar power project through a 50:50 venture, with an installed capacity of 500 MW. The project entails a capital outlay of up to Rs 2,000 crore under Build-Own-Operate (BOO) model, representing the largest private sector foreign direct investment (FDI) in Bhutan’s solar energy sector to date. This milestone transaction highlights Reliance Power’s continued focus on capital deployment into high-impact, long-duration clean energy assets, while strengthening its strategic positioning in the regional power infrastructure space.

The landmark solar investment in Bhutan underscores Reliance Group’s strategic focus on expanding its renewable energy portfolio, while reinforcing its long-term commitment to strengthening India-Bhutan economic cooperation. Reliance Power’s total clean energy pipeline stands at 2.5 GWp solar and >2.5 GWhr BESS, making it India’s largest player in the integrated Solar + BESS segment.

The project will be implemented in phased tranches over the next 24 months, closely aligned with Bhutan’s strategic sustainability framework, and broader regional energy transition agenda across South Asia. The project is expected to redefine Bhutan’s solar generation capacity, surpassing all current solar installations. This initiative is poised to significantly diversify Bhutan’s renewable energy portfolio beyond hydropower and enhance grid stability and integration.

Reliance Power has been established to develop, construct and operate power projects both in India as well as internationally.

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