shares traded 1.22 per cent higher at ₹651.50 on Wednesday afternoon, following the company’s announcement of a major hydroelectric project in Bhutan over the weekend.
The stock opened at ₹647 and touched a high of ₹658.55 during the session, with trading volumes reaching 41.66 lakh shares worth ₹272.28 crore by 12.30 p.m.
On September 5, Adani Power signed a shareholders agreement with Druk Green Power Corp Ltd (DGPC), Bhutan’s state-owned utility, to develop a 570 MW Wangchhu hydroelectric project. The project, requiring an investment of approximately ₹6,000 crore, will operate on a Build-Own-Operate-Transfer model.
Under the agreement, Adani Power will hold a 49 per cent stake while DGPC will own 51 per cent of the joint venture company. Construction is expected to begin in the first half of 2026, with completion targeted within five years.
The Wangchhu project is the first under a broader MOU signed in May 2025 between the Adani Group and DGPC for developing 5,000 MW of hydropower capacity in Bhutan. The project will meet Bhutan’s peak winter demand and export surplus power to India during summer months.
Both companies will appoint three directors each to the project company’s board, with initial share capital set at 10 million shares valued at BTN 100 per share.