Wed Oct 02 22:25:45 UTC 2024: ## Anil Ambani’s Reliance Group Makes Major Move into Bhutan’s Renewable Energy Sector
In a significant development, Anil Ambani’s Reliance Group has announced its entry into Bhutan’s renewable energy sector with plans to set up solar and hydroelectric projects.
The group has formed a strategic partnership with Druk Holding and Investments Ltd (DHI), the commercial and investment arm of the Royal Government of Bhutan, to invest in green energy initiatives.
Under this partnership, Reliance will establish a 500 MW solar plant in Gelephu Mindfulness City, Bhutan, making it the largest solar installation in the country. The project will be completed in two phases of 250 MW each over the next two years.
In addition, Reliance and Druk Holding will jointly develop the 770 MW Chamkharchhu-1 hydro project, classified as a run-of-the-river project under a concession model in accordance with Bhutan government policy.
To spearhead this venture, Reliance has established a new company called Reliance Enterprises, jointly promoted by Reliance Infrastructure Ltd and Reliance Power Ltd. This move signifies Reliance’s commitment to promoting sustainable energy solutions and implementing smart distribution and metering systems in Bhutan.
The partnership aims to bolster investments in Bhutan’s renewable and green energy landscape, contributing to clean energy production and mitigating the impacts of climate change.
This foray into Bhutan marks a significant turnaround for Anil Ambani’s Reliance Group, which has been focusing on reducing debt in recent times. The group has successfully made its Reliance Power and Reliance Infra companies debt-free.
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