Anil Ambani's company signs BIG deal to build largest ever solar energy project of this country, its cost is Rs...

Anil Ambani, the Reliance Group chairman, continues to growth his business. Now, one of his companies, Reliance Power, has teamed up with Bhutan's government company called Green Digital Private Limited. The Ambani-led firm announced on Mondaty that it has signed an agreement with the Bhutan company to help build the country’s largest solar power plant, as per an ET report. The project will generate 500 megawatts (MW) of electricity and marks a major step in boosting clean energy in the region.

"The landmark solar investment in Bhutan underscores Reliance Group’s strategic focus on expanding its renewable energy portfolio, while reinforcing its long-term commitment to strengthening India-Bhutan economic cooperation. Reliance Power’s total clean energy pipeline stands at 2.5 GWp solar and >2.5 GWhr BESS, making it India’s largest player in the integrated Solar + BESS segment," said the company in a statement.

The initiative is a 50-50 joint venture between Reliance Power and Bhutan’s Druk Holding and Investments (DHI), the government’s main investment arm. It will cost up to Rs 2,000 crore and is the biggest private investment in Bhutan’s solar sector so far.

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Reliance Power is a part of the Reliance Group of Anil Ambani. The company currently has a market cap of Rs 18778 crore as of May 19. Its shares price gained over 1 per cent on Monday and closed at Rs 45.59 on NSE. Meanwhile, the new solar plant in Bhutan is expected to help both countries, giving Bhutan more clean energy and allowing it to share power with its neighbors, including India. The electricity will be sold through a long-term agreement with Green Digital, Reliance Power said in an exchange filing.