Adani Power and Druk Green Power Corp. (Bhutan’s state-owned utility) have incorporated a joint venture company (JVC) (with 49:51 shareholding respectively) titled ‘Wangchhu Hydroelectric Power’ for setting up a 570 MW hydroelectric project at Wangchhu in Bhutan. The object of incorporating the JVC inter alia is to carry on the business of generation, accumulation, distribution and supply of and to generally deal in electricity.
Earlier, the company and Druk Green Power Corp. have signed shareholders agreement for the same.
Adani Power is engaged in the business of generation, accumulation, distribution and supply of power and to generally deal in electricity and to explore, develop, generate, accumulate, supply and distribute or to deal in other forms of energy from any source whatsoever.
