On October 2, 2024, Anil Ambani’s Reliance Group announced a substantial cooperation with Druk Holdings and Investments Ltd. (DHI), the Royal Government of Bhutan’s investment arm, to improve the country’s renewable energy environment
Reliance Power shares reached a new high of ₹53.65 per share on Thursday, marking their 11th consecutive session above the 5% upper circuit since January 2018.
The stock has surged 71% during this period, fueled by the company’s transition to being nearly debt-free and aggressive expansion into the renewable and green energy sectors.
Anil Ambani’s reliance power As a part of its growth plans, the company on 2 October announced its foray into Bhutan to develop solar and hydroelectric power projects.
The Anil Ambani-run Reliance Group announced a significant partnership with Druk Holding and Investments Ltd. (DHI), the investment arm of the Royal Government of Bhutan, to enhance the renewable energy landscape in the country.
This collaboration aims to develop major solar and hydropower projects, including a 500 MW solar power plant and a 770 MW hydroelectric project. To oversee these operations, the group has established a new company, Reliance Enterprises, which focuses on clean energy investments and smart energy solutions in Bhutan.
The 500 MW solar project, located in Gelephu Mindfulness City will be executed in two phases over the next two years, representing the largest solar installation in Bhutan upon completion.
Simultaneously, the Chamkharchhu-1 hydro project, classified as a run-of-the-river project, will further bolster Bhutan’s existing power generation capacity. This partnership marks the largest foreign direct investment (FDI) by an Indian private company in Bhutan’s renewable energy sector, the company said in its regulatory filing.
Stellar recovery
Reliance Infrastructure and Reliance Power shares staged a strong recovery in September, closing the month with gains exceeding 60%.
The Anil Ambani-led Reliance Group is a multinational company with a varied influence in several areas of the economy. Among its significant undertakings is Reliance Power, India’s foremost power generation firm with a total installed capacity of 5,340 MW, including the 4,000 MW Ultra Mega Power Project in Sasan, Madhya Pradesh, which is now the world’s largest integrated thermal power plant.
Meanwhile, Reliance Infrastructure, another important firm in the Anil Ambai group, is active in the energy sector, with an emphasis on Delhi electricity distribution and generating. The company also has interests in defence manufacturing and has played a key role in infrastructure development through special purpose vehicles (SPVs), including projects like the Mumbai Metro and various airport developments.