India, May 8 -- Bhutan's Druk Green Power Corporation (DGPC) and the Adani Group signed a Memorandum of Understanding (MoU) in Thimphu to jointly develop hydropower projects to the tune of 5,000 megawatts, a company statement said.

It said the MoU was signed by DGPC's managing director Dasho Chhewang Rinzin and Adani Green Hydro Ltd's chief operating officer(PSP & Hydro) Naresh Telgu in the presence of Bhutanese Prime Minister Dasho Tshering Tobgay, energy minister Lyonpo Gem Tshering.

This MoU builds on the ongoing partnership for the 570/900 MW Wangchhu Hydropower Project, in which DGPC will hold a majority 51% stake and Adani will hold 49%.

The broader 5,000 MW initiative will encompass additional hydropower and pumped storage proje...