Anil Ambani-run Reliance Group said on Wednesday it would jointly develop solar and hydro power projects in Bhutan along with the government's investment arm. The Indian conglomerate, run by the younger brother of Asia's richest man Mukesh Ambani,

Anil Ambani’s Reliance Group said it’s partnered with Bhutan’s Druk Holding and Investments Ltd. to develop solar and hydro energy plants in the South Asian nation.

Anil Ambani’s new project will be the single largest investment in renewable energy sector and the largest foreign direct investment (FDI) by an Indian company in the country.

Anil Ambani-led Reliance Group has partnered with Bhutan's Druk Holding to develop 1,270 MW solar and hydroelectric projects, including a 500 MW solar plant and a 770 MW hydro project. This marks the largest foreign direct investment in Bhutan's renewable energy sector,

Anil Ambani-led Reliance group announced on Wednesday it has entered into an agreement with Druk Holding and Investments Ltd (DHI), the commercial and investment arm of the Bhutan government, to jointly develop a solar and a hydroelectric project in the Himalayan kingdom.

In partnership with Druk Holding and Investments Ltd (DHI), the commercial arm of the Bhutanese government, Reliance Enterprises—a newly established company under Reliance Infrastructure Ltd and Reliance Power Ltd—will lead the project.

India's Reliance Power , part of Anil Ambani's Reliance Group, said on Monday that it plans to raise up to 15.25 billion rupees ($183 million) through a preferential allotment.

Reliance group led by Anil Ambani on Wednesday launched a new company for investing in Bhutan's renewable energy sector, starting with building 1.2 gigawatts of solar and hydropower projects that could entail investments of up to $1 billion.

Anil Ambani-led Reliance Group is set to establish Bhutan's largest solar plant, surpassing all existing solar installations in the country. It will produce clean, renewable energy to help mitigate the impacts of climate change.