Thailand’s B.Grimm Power signed Landmark Hydropower Partnership with Bhutan

B.Grimm Power Public Company Limited has entered into a landmark agreement with Druk Green Power Corporation Limited (DGPC), marking a historic move toward developing hydropower projects in Bhutan.

This Memorandum of Understanding (MoU) designates B.Grimm Power as the first non-Indian foreign company to engage in Bhutan’s hydropower sector.

The MoU was formally signed in Thimphu by Dasho Chhewang Rinzin, Managing Director of DGPC, and Cherdchai Yiwlek, Executive Vice President of B.Grimm Power, on behalf of Harald Link, Chairman of the B.Grimm Group. The signing ceremony was attended by Bhutanese Prime Minister Tshering Tobgay.

Under the terms of the agreement, B.Grimm Power and DGPC will collaborate through special purpose vehicles (SPVs) to explore and develop selected hydropower and solar energy projects across Bhutan. The partnership merges DGPC’s in-depth knowledge of Bhutan’s energy landscape with B.Grimm Power’s extensive technical and investment experience in clean energy across Asia.

Prime Minister Tobgay described the agreement as a milestone, highlighting it as more than just a commercial venture. “This is a symbol of friendship and deeper economic ties between Thailand and Bhutan,” he said. He emphasized Bhutan’s investment potential in infrastructure, e-commerce, internet services, and especially hydropower, citing the Mindfulness City as a major opportunity for future investment.

Mr. Rinzin noted that this venture represents a pioneering moment: “B.Grimm Power is the first foreign investor outside of India to enter our hydropower sector.” The first phase will focus on a 50-megawatt river-based project, with scope for expansion up to 100 MW. DGPC will hold 51% of the joint venture, while B.Grimm Power will own 49%.

“We are pleased to welcome B.Grimm Power as a strategic partner,” Rinzin added. “This alliance is a key step in advancing renewable energy development and fostering technological collaboration between our two countries.”

This initiative supports Bhutan’s Power System Master Plan, which has identified 155 potential hydropower sites with an estimated combined capacity of 37 GW and a projected annual energy output of 154 terawatt-hours by 2040.