 "PM Modi strengthens energy ties with Bhutan, extends $455 million credit line")
India and Bhutan strengthened their energy partnership on Tuesday during Prime Minister Narendra Modi’s visit to the Himalayan kingdom as PM Modi announced a $455 million line of credit and inaugurated a new hydroelectric project.
The visit underscores India’s effort to deepen ties with Bhutan, strategically located between India and China, as Beijing ramps up engagement to resolve a longstanding border dispute and establish diplomatic relations.
PM Modi, on a two-day trip, also addressed an event marking the birthday celebrations of Bhutan’s King Jigme Khesar Namgyel Wangchuck’s father.
“The partnership of trust and development between India and Bhutan stands as a model for the entire region,” Reuters quoted PM Modi as saying.
“As both our countries progress rapidly, our energy partnership is further accelerating this growth,” he added.
Later, PM Modi inaugurated the India-funded 1,020-megawatt Punatsangchhu-II hydroelectric project, which he said will boost Bhutan’s hydropower capacity by nearly 40%.
This is the fifth Indian-backed hydropower project in Bhutan, bringing the country’s total generation from such projects to around 3,000 megawatts. The 40 billion rupee line of credit announced by India is also intended to support energy initiatives, the Indian government said.
Lok Nath Sharma, a former Bhutanese energy minister, noted that the surplus electricity will be exported to India after meeting domestic demand of about 1,000 megawatts.
Indian private firms including Tata Power, Adani Group, and Reliance Power have signed agreements with Bhutan’s Druk Green Power Corporation to develop additional hydroelectric projects.
With inputs from agencies
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