The Solar Farm Expansion project will develop three schemes: Wobthang (120MW) and Pedseling (40MW) in Bumthang constructed by Druk Green Power; and Dramthang (150MW) in Lhuentse is expected to be developed through a joint venture between DGPC and Tata Power Renewable Energy. Bhutan Power will build 46km of transmission infrastructure to connect the facilities to the grid.
The loan will finance most expenditures, including Druk’s equity investment in the PPP joint venture. The project is expected to catalyse approximately US$68.7m in private equity and commercial debt.
Bhutan relies almost entirely on hydropower. During the dry winter months, river flow drops, causing generation to decline and forcing the country to import electricity. The project will help address this growing gap by diversifying the country’s energy mix and supporting the government’s energy policy target of 5GW of solar power by 2040.
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