News

Anil Ambani group stock Reliance Power hogged the limelight in trade on Monday, May 19, after the company announced entering into an agreement with Green Digital Private Limited, owned by the government of Bhutan, to develop the country's largest 500 MW solar power project through a 50:50 joint venture.

Reliance Power, in an exchange filing earlier today, said it has signed a commercial term sheet for a long-term power purchase agreement (PPA) with Green Digital Private Limited (GDL), owned by Druk Holding and Investments Limited (DHI), the investment arm of the Royal Government of Bhutan.

Under the agreement, Reliance Power and DHI will jointly develop Bhutan’s largest solar power project through a 50:50 venture, with an installed capacity of 500 MW. The project entails a capital outlay of up to ₹2,000 crore under Build-Own-Operate (BOO) model, representing the largest private sector foreign direct investment (FDI) in Bhutan’s solar energy sector to date, the Anil Ambani-owned company said in a filing.

More to come…

Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.

Download the Mint app and read premium stories

Log in to our website to save your bookmarks. It'll just take a moment.