Bhutan Partners with Reliance Group to Boost Renewable Energy Projects

AFP | Thimphu

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Bhutan has signed a significant agreement with India’s Reliance Group to develop renewable electricity projects totaling 1,270 megawatts as part of its ambition to become an energy-exporting powerhouse. The small, landlocked nation, with a population of under 800,000, is nestled between China and India and is renowned for prioritizing “Gross National Happiness” over traditional economic growth.

Despite this unique policy, Bhutan faces challenges with widespread unemployment, prompting many young people to seek opportunities abroad. In response, the government is actively pursuing foreign investment to stimulate economic growth, exemplified by initiatives like the ambitious special economic zone, “Gelephu Mindfulness City.”

Ujjwal Deep Dahal, Chief Executive of Bhutan's state-owned Druk Holding and Investments (DHI), highlighted the significance of this partnership, stating, “Bhutan is rich in energy resources, and India’s demand makes this partnership even more crucial.”

Under this agreement, Reliance Group, led by Indian billionaire Anil Ambani, will collaborate with DHI to construct 770 megawatts of hydropower and 500 megawatts of solar energy projects in Bhutan. This strategic investment aims to leverage Bhutan's abundant energy resources while addressing domestic economic challenges.