Synopsis: Adani Power is in partnership with Bhutan’s DGPC, has incorporated Wangchhu Hydroelectric Power Ltd to develop a 570 MW hydro project.
This company is the largest private thermal power producer in India which operates a mix of thermal and renewable power plants is now in the spotlight after forms Joint Venture in Bhutan for 570 MW Hydroelectric Project
With market capitalization of Rs. 3,22,729 cr, the shares of Adani Power Ltd are currently trading at Rs. 167 per share, gaining more than 6% in today’s market session making a high of Rs. 168, from its previous close of Rs. 157.37 per share.
News
Adani Power Limited (APL) has incorporated a joint venture company, Wangchhu Hydroelectric Power Limited (WHPL), in Bhutan in partnership with Druk Green Power Corp. Ltd. (DGPC), Bhutan’s state-owned utility, to develop a 570 MW hydroelectric project at Wangchhu.
The JVC has a 49:51 shareholding structure, with APL contributing BTN 490 million and DGPC BTN 510 million toward the authorized capital of BTN 30 billion, divided into 300 million shares.
WHPL was incorporated on October 15, 2025, will engage in the generation, distribution, and supply of electricity and currently has no turnover as operations are yet to commence. The acquisition is not a related-party transaction, and no regulatory approvals were required for its incorporation. This strategic move strengthens APL’s presence in the renewable energy sector while leveraging its expertise in power generation and integrated project execution.
About the company
Adani Power Ltd, part of the Adani Group, is one of India’s largest private sector power generation companies. It operates a mix of thermal and renewable power plants across the country, with a focus on coal-based electricity generation.
The company’s sales declined from Rs. 14,237 crore in Q4FY25 to Rs. 14,109 crore in Q1FY26. However, operating profit grew to Rs. 5,685 crore from Rs. 4,813 crore, while net profit increased from Rs. 2,599 crore to Rs. 3,305 crore over the same period.
The company’s ROCE stands at 22.5%, while ROE is 26.1%. It has delivered strong profit growth, with a 65.7% CAGR over the past five years. It also demonstrated a solid ROE track record, with a three-year average of 40.4%.
Written by Manideep Appana
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