DGPC–CRPL MoU Targets 100–250 MW Hydropower And Solar Projects In Bhutan

Druk Green Power Corporation Limited (DGPC), Bhutan’s leading renewable energy company, has signed a Memorandum of Understanding (MoU) with Carbon Resources Private Limited (CRPL), a Kolkata-based company engaged in carbon products and sustainable investments, to jointly explore and develop renewable energy projects in Bhutan. The partnership will focus on hydropower and solar projects with capacities ranging between 100 MW and 250 MW.

The MoU signing ceremony was attended by Lyonpo Gem Tshering, Bhutan’s Minister for Energy and Natural Resources, reflecting the Royal Government of Bhutan’s strong support for clean energy partnerships. Officials from the Embassy of India in Bhutan, members of the DGPC Board of Directors, DGPC management, and representatives of CRPL were also present at the event.

Under the agreement, DGPC will provide CRPL with access to relevant project information, past studies, and regulatory guidelines. This will allow CRPL to carry out detailed technical, commercial, and financial evaluations of potential hydropower and renewable energy sites. As part of the process, CRPL will conduct field visits, site appraisals, and due diligence before finalising a suitable project for joint development.

Once projects are identified, they will be developed through one or more Special Purpose Vehicles (SPVs) to be incorporated in Bhutan. These SPVs will function as joint ventures between DGPC and CRPL, with a proposed financing structure of 70 percent debt and 30 percent equity.

Speaking at the ceremony, Lyonpo Gem Tshering expressed satisfaction with Bhutan’s progress in building strategic renewable energy partnerships. He noted that MoUs covering more than 12,000 MW of generation capacity have already been signed. He said the DGPC–CRPL partnership is another step toward Bhutan’s long-term goal of achieving 25,000 MW of installed generation capacity by 2040. At the same time, he stressed the need for the timely execution of projects, referring to initiatives such as the Khorlochhu Hydropower Project, the Jamjee Solar PV Project, and other developments expected to begin within the next one to two years.

CRPL Managing Director Abhinav Jalan said the company is honoured to partner with DGPC and described Bhutan as a global example of environmental care and sustainable development. He said the collaboration goes beyond business and reflects a shared long-term vision for clean energy and regional cooperation.

DGPC Managing Director Dasho Chhewang Rinzin said the partnership supports DGPC’s broader strategy to work with credible private investors to build future-ready green infrastructure and strengthen regional clean power systems.

The MoU underlines both companies’ commitment to transparent and responsible project development, aligned with the regulatory frameworks of Bhutan and India, while promoting long-term cooperation in renewable energy.