New Delhi, May 19 – Shares of Reliance Power soared on Monday after the company announced a significant milestone in its clean energy expansion strategy by signing a commercial term sheet for a long-term Power Purchase Agreement (PPA) with Green Digital (GDL), a subsidiary of Druk Holding and Investments (DHI), which is the investment arm of the Royal Government of Bhutan.
The stock climbed 2.22% to trade at ₹46.08 on the Bombay Stock Exchange (BSE), gaining ₹1.00 from its previous close of ₹45.08. The scrip opened at ₹45.40 and hit an intraday high of ₹46.72. Over 4.29 million shares exchanged hands during the session. With a current market capitalization of ₹19,099.41 crore, Reliance Power has experienced renewed investor confidence following this key development.
500 MW Solar Project to Be Developed in Bhutan
The agreement will see Reliance Power and DHI jointly develop Bhutan’s largest solar power project under a 50:50 partnership. The initiative represents a capital investment of up to ₹2,000 crore and will be executed under a Build-Own-Operate (BOO) model. It also marks the largest private sector foreign direct investment (FDI) in Bhutan’s solar energy sector to date.
This cross-border clean energy initiative is poised to become a pivotal part of South Asia’s energy transition efforts, strengthening regional infrastructure and promoting integration in the renewable sector.
Strategic Expansion in Solar + BESS
The new venture is part of Reliance Power’s broader clean energy pipeline, which currently includes 2.5 GWp of solar projects and more than 2.5 GWhr of battery energy storage systems (BESS). This positions the company as India’s largest player in the integrated Solar + BESS segment.
The Bhutan project will be rolled out in multiple tranches over the next 24 months, in alignment with the country’s strategic sustainability framework. It is expected to surpass all current solar installations in Bhutan, marking a significant diversification of its renewable portfolio beyond hydropower.
Boosting India-Bhutan Energy Cooperation
Reliance Group’s latest investment underlines its long-term commitment to regional energy collaboration and economic ties with Bhutan. By enhancing grid stability and expanding clean energy generation in Bhutan, the project is set to become a model for international renewable energy cooperation.
Reliance Power, part of the Anil Ambani-led Reliance Group, continues to focus on high-impact, long-duration clean energy assets, both within India and internationally. This PPA with GDL marks a major step in its ambition to be a regional clean power leader.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.
