JSW Neo Energy Limited, a wholly-owned subsidiary of JSW Energy, has signed a shareholders’ agreement with Druk Green Power Corporation (DGPC) for the joint development of the Punatsangchhu-III hydroelectric project. The project has an installed capacity of 920 MW and is located in the Wangdue Phodrang district in Bhutan.
Furthermore, DGPC holds a 51 per cent stake in the project while JSW Neo Energy holds a 49 per cent stake. This agreement marks JSW Energy’s first power generation venture outside India. JSW will make an initial contribution of Nu. 245 million, with any further contribution to be based on the project’s further development. The detailed project report is currently being prepared jointly by the companies.
In July 2026, Druk Hydro Energy Limited awarded hydro-mechanical works contracts to Bhutan Hydropower Services Limited for the 54 MW Gamri-I & Bamukparongchhu integrated hydropower project and the 90 MW Jomori hydropower project. The Gamri & Bamukparongchhu works are scheduled for completion by July 2028, while the Jomori works are targeted for November 2028.