Investing in Bhutan's Clean Energy Future
A carbon-negative economy, 2,453 MW of renewable capacity, and a 25 GW mandate to 2040.
2,453 MW
Installed Renewable Capacity
25 GW
Clean Energy Target 2040
10,691 M
Units Generated Annually
6 +
Global Strategic Partners
Why Invest
The Investment Case for DGPC
DGPC operates at the intersection of energy security, sustainable development, and regional economic integration. As Bhutan's sole generation utility and the architect of its 25 GW expansion, the company offers investors access to a unique combination of sovereign backing, long-term offtake agreements, and a carbon-negative operating environment that no other regional energy company can match.
01 · CARBON-NEGATIVE ADVANTAGE
A Carbon-Negative Operating Environment
Bhutan is one of the world's few carbon-negative countries. DGPC's 100% renewable portfolio reinforces this status and opens direct access to carbon markets and international climate finance mechanisms.
02 · SOVEREIGN-BACKED STABILITY
Royal Charter & DHI Ownership
DGPC operates under a Royal Charter as a subsidiary of Druk Holding and Investments (DHI), Bhutan's state holding company — providing institutional stability and sovereign-backed assurance for long-term investors.
03 · REVENUE PREDICTABILITY
Long-Term Export Agreements with India
Electricity exports to India represent Bhutan's largest national revenue source. DGPC holds long-term bilateral power purchase agreements underpinning revenue predictability across its operational portfolio.
04 · GROWING GLOBAL NETWORK
Expanding International Partnership Base
Strategic MoUs with Tata Power, Adani Power, B.Grimm (Thailand), ACWA Power (Saudi Arabia), and Reliance Industries reflect growing international investor confidence and a broadening co-investment pipeline.
25 GW
Carbon-Negative Nation
Bhutan absorbs more carbon than it emits. DGPC's generation portfolio keeps it that way — and opens access to carbon market revenues.
Primary National Revenue
Hydropower exports to India are Bhutan's single largest national income source — underpinning fiscal stability for decades.
15-Year Growth Mandate
DGPC's Corporate Strategy Plan runs to 2040 — a 15-year mandated expansion providing investors with long-horizon certainty.
6 Global Strategic Partners
Tata Power, Adani, B.Grimm, ACWA Power, Reliance Industries, and PTC India — spanning India, Thailand, and Saudi Arabia.
Financial Performance
Financial Performance
DGPC's financial performance is underpinned by long-term power purchase agreements with India, a fully renewable generation portfolio, and the consolidation of the Mangdechhu hydropower plant in 2024 — which more than doubled electricity revenues. The company reports annually to its shareholder Druk Holding and Investments and maintains transparent financial disclosure practices aligned with its Corporate Governance Code.
Annual Report — Latest Edition
Operational performance, financial results, and strategic updates.
Download
2,453 MW
Total installed renewable generation capacity across all operational plants
Current · Verified
10,691 M units
Annual electricity generation output from the full operational portfolio
Annual Average
2024 milestone
Mangdechhu consolidation more than doubled DGPC's electricity revenues
Confirmed · FY2024
Nu.367 M+
Active capital investment pipeline value in current project commitments
Active Pipeline
Generation Output Trend — 5 Year
Million units generated · Source: DGPC Annual Report
Corporate Strategy
Corporate Strategy Plan 2025-2040
DGPC's Corporate Strategy Plan sets out the most ambitious energy expansion in Bhutan's history. Mandated by the Royal Government and anchored in His Majesty's Vision for the Gelephu Mindfulness City and DHI's 10X Group Roadmap, the plan positions DGPC as the primary catalyst driving Bhutan's clean energy transition and regional energy integration.
15 GW New Hydropower
Development of multiple large and medium hydropower projects across Bhutan's river systems through direct development, PPPs, and IPP participation.
5 GW Solar Expansion
Deployment of utility-scale and distributed solar to complement hydropower, eliminate winter energy deficits, and diversify Bhutan's renewable generation mix.
Storage & Digital Systems
Pumped storage, battery energy storage, AI-enabled grid monitoring, and modern project management to ensure system flexibility through 2040.
15 GW New Hydropower
Development of multiple large and medium hydropower projects across Bhutan's river systems through direct development, PPPs, and IPP participation.
Key CSP Milestones
2025
CSP Launch & Pipeline Activation
Corporate Strategy Plan formally adopted. MoUs with Tata Power and strategic partners activated. Solar pipeline construction commences.
2026
DSPIP Completion & New Project Sanction
7.83 MWp Distributed Solar for Public Infrastructure Project fully operational. New large hydro project sanctions expected.
2030
35 MWp Solar & Major Hydro Progress
DSPIP scaled to 35 MWp nationwide. Dorjilung (1,125 MW) and other large hydro projects in advanced construction stages.
2035
Mid-Strategy Capacity Review
Minimum 10 GW new capacity commissioned. Pumped storage projects operational. Regional export infrastructure strengthened.
2040
25 GW Target — Full Realisation
15 GW new hydropower + 5 GW solar capacity fully developed. Bhutan established as South Asia's leading renewable energy exporter.
Corporate Strategy Plan 2025–2040
Governance & Oversight
Governance & Oversight
Royal Charter
DGPC's foundational mandate is defined by the Royal Charter, which establishes the company's responsibilities as Bhutan's national clean energy institution and sole generation utility.
DHI Ownership Policy 2010
Sets accountability and performance standards across all DHI-owned enterprises, ensuring DGPC operates to shareholder expectations of responsible, transparent governance and performance delivery.
Corporate Governance Code (2013)
Establishes principles for transparency, ethical conduct, Board oversight, and responsible disclosure — progressively aligned with GRI and TCFD international sustainability reporting standards.
Board Oversight
DGPC's Board of Directors, chaired by Karma Tshering, maintains oversight of governance, ESG performance, and strategic direction. The Board ensures accountability at the highest institutional level and includes members drawn from Bhutan's public and private sector leadership. Managing Director: Dasho Chhewang Rinzin.
Strategic Partnerships
A Global Network of Energy Partners
DGPC has built a growing network of strategic partnerships with leading energy companies across South Asia, Southeast Asia, and the Middle East — covering joint hydropower development, cross-border power trade, solar-hydro integration, and long-term co-investment agreements.
Tata Power Company Limited
India · Active
Joint development of Khorlochhu (600 MW) and Dorjilung (1,125 MW). MoU (2025) covering 5,000 MW of combined hydropower and solar capacity across Bhutan.
5,000 MW MoU · 2025
Adani Power Limited
India · Active
MoU for joint development of 5,000 MW of hydropower capacity including the 570 MW Wangchhu hydroelectric project in western Bhutan.
5,000 MW MoU · 2026
B.Grimm Power
Thailand · Active
MoU for solar-hydro hybrid development — DGPC's first bilateral energy partnership with a Southeast Asian company, opening a new regional investment corridor.
Solar-Hydro Hybrid MoU
ACWA Power
Saudi Arabia · Active
MoU engagement reflecting interest from Middle Eastern institutional energy investors in Bhutan's renewable expansion pipeline and co-investment opportunities.
Renewable MoU · Active
Reliance Industries Limited
India · Active
MoU expanding DGPC's India-focused co-investment network alongside existing Tata Power and Adani Power collaborations in the Bhutan energy sector.
Co-Investment MoU
PTC India Limited
India · Active
Cross-border electricity trade arrangements supporting Bhutan's role in regional power markets and facilitating long-term electricity export agreements with Indian buyers.
Power Trade · Active
Strategic Partnershipsy
A Global Network of Energy Partners
DGPC has built a growing network of strategic partnerships with leading energy companies across South Asia, Southeast Asia, and the Middle East — covering joint hydropower development, cross-border power trade, solar-hydro integration, and long-term co-investment agreements.
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Corporate Strategy Plan 2025–2040
Full CSP outlining DGPC's 25 GW mandate, investment priorities, and 15-year growth roadmap.
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Bhutan renewable energy strategy, DGPC CSP, 25 GW energy target
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Annual Report — Latest Edition
Operational performance, financial results, strategic developments, and management commentary.
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DGPC annual report, hydropower financial performance Bhutan
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Corporate Governance Code (2013)
Governance principles, organisational transparency standards, and Board oversight structures.
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DGPC corporate governance, DHI governance standards, state-owned enterprise Bhutan
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Sustainability & ESG Disclosure
Environmental, social, and governance performance aligned with SDG 7, SDG 13, GRI, and TCFD.
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DGPC ESG report, carbon-negative Bhutan, sustainable hydropower development
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Business Code of Conduct
Ethical standards and professional conduct expected across DGPC and all subsidiary companies.
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DGPC code of conduct, corporate ethics Bhutan energy sector
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Environmental & Social Management Framework
Environmental protection and social safeguard procedures across all DGPC hydropower projects.
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DGPC environmental framework, hydropower social impact Bhutan
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Get In Touch
Investor Relations Contact
For investment enquiries, partnership discussions, and institutional document requests, please contact DGPC's Investor Relations team directly. DGPC welcomes engagement from institutional investors, development finance institutions, and strategic co-development partners.
Partnership Enquiries
partnerships@drukgreen.bt
Joint ventures, MoU discussions, & co-development proposals
