Investor Relations · DGPC · Bhutan

Investing in Bhutan's Clean Energy Future

DGPC is Bhutan's national clean energy company and the backbone of a carbon-negative economy. We provide investors with transparent access to our financial performance, governance frameworks, corporate strategy, and 25 GW growth roadmap.

View CSP 2025–2040 View All Documents

Key Investment Metrics

2,471 _MW

Installed renewable capacity

25 _GW

National target by 2040

100 _%

Renewable generation

Years as sole utility

Key Investment Metrics

2,471 _MW

Installed renewable capacity

25 _GW

National target by 2040

100 _%

Renewable generation

Years as sole utility

2,471 ^MW

Installed Renewable Capacity

25 ^GW

Clean Energy Target 2040

11,302 ^GWh

Units Generated Annually

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, it offers investors 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 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.

02 · Sovereign-Backed Institutional Stability

DGPC operates as a subsidiary of Druk Holding and Investments (DHI) — providing sovereign-backed assurance and institutional stability for long-term investors.

03 · 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.

04 · Expanding Global Partnership Network

Strategic MoUs with Tata Power, Adani, Andritz Hydro, B.Grimm (Thailand) reflect growing international investor confidence in Bhutan's energy sector.

25 GW

Carbon-Negative Nation

Bhutan absorbs more CO₂ than it emits. DGPC's portfolio keeps it that way and opens access to carbon market revenues.

Primary National Revenue Source

Hydropower exports to India are Bhutan's single largest national income stream — underpinning fiscal stability for decades.

15-Year Mandated Growth Plan

DGPC's Corporate Strategy Plan runs to 2040 — a mandated expansion providing investors with long-horizon certainty.

Global Strategic Partners

Tata Power, Adani, Andritz Hydro, B.Grimmand PTC India — spanning India, Thailand, and Austria.

Financial Performance

Financial Strength from Renewables and Long-Term PPAs

DGPC's financial performance is underpinned by long-term power purchase agreements with India, a fully renewable generation portfolio, and the consolidation of Mangdechhu in 2024 — which more than doubled electricity revenues. The company reports annually to DHI and maintains transparent financial disclosure aligned with its Corporate Governance Code.

Generation Output Trend — 5 Year

10,299.3 GWh 2021

10,312.9 GWh 2022

10,090.7 GWH 2023

10,691.0 GWh 2024

11,302.7 GWh 2025

DGPC Annual Report · Updated annually

2,471 ^MW

Total installed renewable capacity across all operational plants.

Current · Verified

11,302 ^GWh

Annual electricity generation output from full operational portfolio

Annual Average

2024 ^milestone

Mangdechhu consolidation more than doubled DGPC's electricity revenues

Confirmed · FY2024

Annual Report — Latest Edition Operational performance, financial results, and strategic updates.

Download

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 targets 25 GW of clean energy capacity by 2040 — positioning DGPC as the primary driver of Bhutan's clean energy transition and regional energy integration.

15 GW New Hydropower

Development of large and medium hydropower projects through direct development, PPPs, and IPP participation across Bhutan's major river systems.

5 GW Solar Expansion

Utility-scale and distributed solar to complement hydropower, eliminate winter energy deficits, and diversify Bhutan's generation mix.

Storage & Digital Systems

Pumped storage, battery energy storage, AI-enabled grid monitoring, and modern project management for system flexibility through 2040.

Regional Partnerships & Financing

Expanding regional energy partnerships and innovative financing models to support large-scale renewable development and export ambitions.

Key CSP Milestones

2025–26

CSP Launch & Pipeline Activation

CSP formally adopted. MoUs with Tata Power and strategic partners activated. Solar pipeline construction commences.

2027–28

DSPIP Completion & New Sanctions

7.83 MWp Distributed Solar for Public Infrastructure Project fully operational. New large hydro project sanctions expected.

2029–30

35 MWp Solar & Major Hydro Progress

DSPIP scaled to 35 MWp nationwide. Dorjilung (1,125 MW) and other major projects in advanced construction stages.

2031–35

Mid-Strategy Capacity Review

Minimum 10 GW new capacity commissioned. Pumped storage operational. Regional export infrastructure strengthened.

2036–40

25 GW Target — Full Realisation

15 GW hydro + 5 GW solar fully developed. Bhutan established as South Asia's leading renewable energy exporter.

Corporate Strategy Plan 2025–2040 — investment priorities, pipeline & growth roadmap.

Download

Governance & Oversight

A Robust Governance Framework

DHI Ownership Policy 2010

Sets accountability and performance standards across all DHI-owned enterprises, ensuring DGPC operates to shareholder expectations of responsible, transparent governance.

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

PTC India Limited

India · Active

Cross-border electricity trade arrangements supporting Bhutan's role in regional power markets and long-term electricity export agreements with Indian buyers.

Power Trade · Active

Documents & Downloads

Investor Resources Hub

DGPC provides investors, partners, and institutional stakeholders with direct access to all key corporate documents. All materials are available as downloadable PDFs. For additional disclosures, contact the investor relations team below.

Document	Description	Download
Corporate Strategy Plan 2025–2040	Full CSP outlining DGPC's 25 GW mandate, investment priorities, and 15-year growth roadmap.	Download
Annual Report — Latest Edition	Operational performance, financial results, strategic developments, and management commentary.	Download
DHI Ownership Policy	Accountability and performance standards across all DHI-owned enterprises	Download
Corporate Governance Code (2013)	Governance principles, organisational transparency standards, and Board oversight structures.	Download

Get In Touch

Investor Relations Contact

For investment enquiries, partnership discussions, and institutional document requests, please contact DGPC's Investor Relations team. DGPC welcomes engagement from institutional investors, development finance institutions, and strategic co-development partners.

Investor Relations

is@drukgreen.bt

Financial performance, governance & document requests

Partnership Enquiries

t.lhamo1801@drukgreen.bt

Joint ventures, MoU discussions & co-development proposals

Main Office

+975 2 336414

Druk Green Power Corporation, Thimphu, Bhutan