Reliance Power, Reliance Infrastructure shares in focus after group forays into Bhutan
Reliance Power and Reliance Infrastructure will be in focus on Thursday as the Anil Ambani-run group announced that it will develop solar and hydroelectric power projects in Bhutan.
The conglomerate said that will partner with Druk Holding and Investments Ltd. (DHI), the commercial and investment arm of the Royal Government of Bhutan, to jointly develop 500 MW of Solar and 770 MW of Hydropower projects in Bhutan.
The group will form a new subsidiary ‘Reliance Enterprises’, which will be jointly promoted by Reliance Infrastructure Ltd and Reliance Power.
“Reliance Group today entered into a strategic partnership agreement with Druk Holding and Investments Ltd. (DHI), the commercial and investment arm of the Royal Government of Bhutan, to undertake various initiatives aimed at bolstering the investment in the renewable and green energy landscape of Bhutan,” the group said in a press release on Wednesday.
The 500 MW Solar Plant is said to executed over the next two years in two phases of 250 MW each. Meanwhile, Reliance Power Ltd. and Druk Holding to jointly develop the 770 MW Chamkharchhu-1 hydro project which is classified as a run-of-the-river project and under a concession model in accordance with RGOB policy.
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