Anil Ambani’s comeback spree? Reliance forays into Bhutan to set up largest solar plant in the country

Anil Ambani’s Reliance Group has entered Bhutan, announcing plans to develop 1,270 megawatts of solar and hydroelectric power projects in the country. The group has signed a partnership with Druk Holding and Investments Ltd (DHI), the commercial arm of the Bhutanese government, to boost investments in renewable energy, the company informed the exchanges on Wednesday.Reliance has set up a new company, Reliance Enterprises, for this venture, which will be jointly promoted by Reliance Infrastructure Ltd and Reliance Power Ltd. The company will focus on green energy, including solar and hydro projects, and explore new green technologies.As part of the agreement, Reliance Enterprises will build a 500 MW solar plant in Gelephu Mindfulness City in two phases of 250 MW each, to be completed over the next two years. The partnership will also see the development of the 770 MW Chamkharchhu-1 hydroelectric project, which will operate under Bhutan’s concession model for run-of-the-river hydro…