JSW Energy and Druk Green Power Corp Sign Agreement for 920 MW Hydroelectric Project in Bhutan

JSW Energy Ltd. has announced that its wholly owned subsidiary JSW Neo Energy Ltd. (JSWNEL) has signed a Shareholders' Agreement with Druk Green Power Corporation Ltd. (DGPC) for the joint development of the 920 MW Punatsangchhu-III Hydroelectric Project in Bhutan, as per the exchange filings.  

JSW Energy to Develop 920 MW Hydro Project in Bhutan 

The project is located on the Punatsangchhu River in Wangdue Phodrang District, Bhutan, and will be developed on a Build-Own-Operate-Transfer (BOOT) basis through a proposed joint venture company in Bhutan.   

DGPC will hold a 51% stake in the proposed JV, while JSW Neo Energy will hold the remaining 49%. The JV will operate in the hydropower generation sector.  

JSW Energy's First Power Generation Venture Outside India 

The project marks JSW Energy's first power generation venture outside India. The Detailed Project Report is currently being prepared jointly by JSW Energy and DGPC.  

The partnership brings together JSW Energy's experience in hydropower development and DGPC's expertise in developing and operating hydroelectric assets in Bhutan.  

Initial Contribution of BTN 245 Million 

JSW Neo Energy will subscribe to its 49% equity stake in cash, with an initial contribution of BTN 245 million. Any additional capital infusion will depend on the further development of the project.  

Strengthens JSW Energy's Hydro Portfolio 

The 920 MW project will add to JSW Energy's existing hydro portfolio. The company currently has 1,781 MW of operating hydropower capacity and is the largest private hydropower generator in India. Its total locked-in generation capacity stands at 32.4 GW, comprising 14.9 GW operational, 13.5 GW under construction and a 4 GW pipeline.  

The company also has 29.6 GWh of locked-in energy storage capacity, including pumped hydro storage and battery energy storage systems.  

Supports Long-Term Clean Energy Strategy 

JSW Energy said the Punatsangchhu-III project will add clean, dispatchable generation capacity, complementing its wind and solar portfolio. The company aims to reach 30 GW of generation capacity and 40 GWh of energy storage capacity by 2030, along with carbon neutrality by 2050.  

Read More: Panama Petrochem Share Price Falls Over 7% After Q1 FY27 Earnings Results: Total Income Up 149.4% YoY! 

JSW Energy Share Price Performance 

As of August 12, 2026, at 3:00 PM, JSW Energy share price was trading at ₹556.10 per share, reflecting a decline of 1.23% from the previous closing price. 

Conclusion 

The agreement marks JSW Energy's entry into power generation outside India and expands its hydroelectric portfolio through a 920 MW project in Bhutan. The partnership with DGPC also supports the company's broader strategy of increasing clean and dispatchable power capacity.  

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.