phpa ii bhutan

What phpa ii bhutan does

Punatsangchhu-II Hydroelectric Project Authority (PHPA-II) is an autonomous bilateral body established on July 30, 2010 by the Royal Government of Bhutan and the Government of India to implement a 1,020 MW run-of-river hydroelectric scheme on the Punatsangchhu river in Wangduephodrang district, Bhutan. The project comprises a 91m concrete gravity dam with 12m-diameter diversion tunnels, an 8.58 km headrace tunnel, a 31m-diameter surge shaft, an underground power house cavern at Kamechu housing six 170 MW generating units, and associated tailrace and transmission infrastructure. Construction was executed under three main civil packages (C-I Dam to M/s Jaiprakash Associates, C-II HRT to M/s Gammon India, C-III Power House to M/s Jaiprakash Associates) and eight electro-mechanical packages, with WAPCOS Limited and the Central Water Commission providing design and engineering oversight.

All six generating units were commissioned sequentially between December 27, 2024 and September 6, 2025, with the river diverted through the diversion tunnel on May 20, 2025 and overall project completion reported at 99.98% as of May 31, 2026. The Authority is staffed by 524 personnel (514 Bhutanese and 10 Indian nationals, split between deputation and contract) and is led by a Chairman from the Bhutanese Ministry of Energy and Natural Resources, a Managing Director on deputation from NHPC Limited, and a Joint Managing Director on secondment from Druk Green Power Corporation.

Revenue mechanics are anchored in a single bilateral power purchase commitment: 100% of surplus generation (4,357 GWh design annual output) is exported to India at a tariff negotiated between the two governments, with no merchant or third-party offtake. Capital is provided by the Government of India as a 30% grant and 70% loan at 10% interest, repayable in 30 equated semi-annual installments. The Authority is contractually required to dissolve within two years of commissioning, with the asset to be handed over to the Royal Government of Bhutan for subsequent operation through Druk Green Power Corporation.

Name

phpa ii bhutan

Legal name

Punatsangchhu-II Hydroelectric Project Authority

Website

https://phpa2.gov.bt

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

1–10 employees

Short description

PHPA-II is a bilateral Bhutan–India autonomous authority operating the 1,020 MW Punatsangchhu-II run-of-river hydroelectric project, exporting all surplus power to India under a single inter-government framework ahead of handover to the Royal Government of Bhutan.

Ownership category

akta.pro rank

Product category

Hydroelectric Power Generation

NAICS

Hydroelectric Power Generation (221111), Electric Power Generation, Transmission and Distribution (2211), Utility System Construction (2371)

SIC

Heavy Construction Other Than Bldg Const - Contractors (1600)

akta.pro primary industry

Run-of-River Hydroelectric Generation (EUACAEAA)

akta.pro secondary industries

Hydropower Operations, Maintenance & Refurbishment (R&M/Life Extension) (EUACAEAG), Hydropower EPC & Construction (Civil Works, Electromechanical) (EUACAEAF)

Keywords

• Hydroelectric power generation
• Run-of-river dam
• Bilateral infrastructure project
• Power export transmission
• Renewable energy utility

Headquarters

HQ city

Thimphu

HQ country

Bhutan

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Personnel, Supply Chain, Technology or R&D, Operations

Revenue model

1. Power Export to India: All surplus power from the 1,020 MW hydroelectric project is exported to India per the bilateral agreement between the Royal Government of Bhutan and Government of India. The project is funded by GoI (30% grant and 70% loan at 10% annual interest, repayable in 30 equated semi-annual installments).

Go-to-market motion1 record

Core offering

PHPA-II operates the 1,020 MW Punatsangchhu-II Hydroelectric Project (PHEP-II), a run-of-the-river hydroelectric facility on the Punatsangchhu river in Wangduephodrang, Bhutan. The project comprises a concrete gravity dam, head race tunnel, underground power house with six 170 MW generating units, and associated transmission infrastructure. All surplus electricity generated is exported to India under a bilateral agreement between the Royal Government of Bhutan and the Government of India, with annual generation capacity of 4,357 GWh.

Product overview

PHPA-II operates the 1,020 MW Punatsangchhu-II Hydroelectric Project (PHEP-II), a run-of-the-river hydroelectric facility in Bhutan developed jointly by the Royal Government of Bhutan and Government of India. The project consists of a concrete gravity dam (C-I package), an 8.58 km head race tunnel (C-II package), and an underground power house complex (C-III package) housing six 170 MW generating units with full electro-mechanical works (EM-1 through EM-7 packages) and transmission infrastructure. The project has achieved full commissioning with all six units operational.

Differentiator

Problem solved

Functional benefit

Products and services

• Punatsangchhu-II Hydroelectric Project (PHEP-II) A 1,020 MW run-of-the-river hydroelectric project on the Punatsangchhu river in Bhutan, comprising a concrete gravity dam, head race tunnel, underground power house with six 170 MW generating units, and associated transmission infrastructure. All surplus electricity is exported to India under the bilateral agreement between the Royal Government of Bhutan and the Government of India.
• C-I Dam Package Construction of the diversion tunnel (12m diameter, 888m length - largest in sub-continent), concrete gravity dam (91m height, 214m length), coffer dams, spillways, intake tunnels, desilting chambers (biggest in the country with 4 chambers of 420m length, 17/19m width, 24.74m height), and the first highway tunnel (1.5 km) constructed in Bhutan.
• C-II Head Race Tunnel (HRT) Head race tunnel of 11m diameter and 8.58km length, the largest in the country, designed to carry design discharges of 466 Cumec, constructed with concrete lining.
• C-III Power House Complex Underground power house cavern (236m length, 23m width, 51m height), transformer hall, surge shaft (31m diameter, 137m height - largest/deepest in the country), pressure shafts, tail race tunnel (11m diameter, 3km - biggest in the country), and associated hydro-mechanical works.
• Electro-Mechanical Works Package Electro-mechanical components including six 170 MW generating units with auxiliaries, generator transformers, 420 kV gas insulated switchgear, 400 kV power cables, protection systems, air conditioning, ventilation, and fire fighting systems across eight packages (EM-1 through EM-7).

Quantifiable outcome

• Annual power generation capacity of 4,357 GWh
• +3 more outcomes

Named customers2 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Eleven partnerships are on record, tiered core, major and minor.

• Royal Government of Bhutan (RGoB)coreStrategic or Co-development PartnerBilateral agreement signed July 30, 2010 between RGoB and GoI for implementation of the 1,020 MW project. Foundation stone laid jointly by Prime Ministers of both countries. Project authority established and will be dissolved within two years after commissioning for handover to RGoB.
• WAPCOS LimitedcoreTechnology or IntegrationWAPCOS Ltd, Ministry of Water Resources, Government of India serves as design and engineering consultant to the Authority. Provides expertise from premier organizations including Central Electricity Authority, Central Water Commission, Central Water & Power Research Station, Central Soil & Materials Research Station, and Geological Survey of India.
• Druk Green Power Corporation (DGPC)coreStrategic or Co-development PartnerRoyal Government of Bhutan undertaking. Joint Managing Director of PHPA-II is on secondment from DGPC. DGPC serves as the parent organization for hydropower operations in Bhutan.
• Central Water Commission (CWC)majorTechnology or IntegrationGovernment of India ministry providing technical expertise through WAPCOS Ltd. Ministry of Water Resources, River Development & Ganga Rejuvenation.
• Central Electricity Authority (CEA)majorTechnology or IntegrationGovernment of India ministry providing technical expertise through WAPCOS Ltd. Ministry of Power. Member (Hydro), CEA serves as Chairman of Technical Coordination Committee.
• Geological Survey of India (GSI)majorTechnology or IntegrationGovernment of India ministry providing geological expertise through WAPCOS Ltd. Ministry of Mines.
• Royal Society for Protection of Nature (RSPN)minorStrategic or Co-development PartnerPHPA-II coordinates with RSPN for White Bellied Heron conservation since 2011. MoU signed November 17, 2016 for construction of WBH conservation facility at Chanchey, Tsirang. Facility handed over to RSPN on November 27, 2020.
• Department of Livestock (DoL)minorStrategic or Co-development PartnerLetter of Understanding signed March 16, 2018 for construction of Golden Mahseer Hatchery and Conservation Facility at Harachu. Completed and handed over to DoL on March 24, 2021.
• Department of Forest & Park Services (DoFPs)minorStrategic or Co-development PartnerExecuting agency for compensatory afforestation program. PHPA-II executed 600 hectares of compensatory afforestation (twice the 300 hectares affected) across five districts through MoU with Gross National Happiness Commission.
• M/s Jaiprakash Associates LimitedmajorOthersMain civil works contractor awarded June 26, 2011. Contract package C-1 includes diversion tunnel, dam, intake, desilting arrangement, and highway tunnel. Contract package C-3 includes headrace tunnel, surge shaft, power house, and tailrace tunnel.
• M/s Gammon India LimitedmajorOthersHead Race Tunnel (HRT) contractor awarded June 26, 2011 at contract amount of INR/Nu 3,983.27 million. Responsible for construction of 6,514m of the 8,514m total HRT length.

Scale indicators8 records

Recent moves8 records

Expansion highlights4 records

Regional players

• Bhutan Power Corporation: Bhutan's state-owned transmission and distribution utility, part of the same national power ecosystem that PHPA-II feeds. Comparable as a Bhutanese state power-sector entity that interfaces with the generation infrastructure PHPA-II operates.

Broad incumbents

• Tata Power: Largest Indian private-sector integrated power player with significant clean-energy generation including hydropower. Comparable as a large-scale generator participating in India's clean-energy supply mix that PHPA-II's export volumes ultimately feed.
• NHPC Limited: India's largest hydropower developer (Navratna PSU under Ministry of Power) and the source of PHPA-II's Managing Director and Director (Technical) on deputation. Comparable as a large-scale hydroelectric operator with deep experience in Himalayan projects and bilateral project execution.

Direct peers

• SJVN Limited: Joint venture between GoI and Himachal Pradesh with operating hydropower assets in the Himalayas and active Bhutan projects (e.g., 1,200 MW Arun-3 in Nepal and Bhutan-India bilateral projects). Comparable as a government-backed hydropower developer executing cross-border projects in the Himalayan region.
• NHPC (Ratle) / Ratle Hydroelectric Power Corporation: Joint venture (NHPC + JKSPDC) implementing the 850 MW Ratle hydroelectric project on the Chenab, where PHPA-II's current MD previously served as General Manager (Civil). Comparable as a bilateral/joint-venture Himalayan run-of-river project with similar institutional and execution dynamics.
• Druk Green Power Corporation: Royal Government of Bhutan undertaking that is the parent organization for hydropower operations in Bhutan and supplies the Joint Managing Director to PHPA-II. Directly comparable as Bhutan's principal hydropower asset operator with similar run-of-river fleet and India export mandate.

Others

• PTC India Limited: Central PSU that acts as a power trader and plays a role in cross-border Bhutan-India power arrangements. Comparable as a counterparty ecosystem participant in the bilateral hydropower value chain that PHPA-II feeds into.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights5 records

Customer concentration

• LinkedInlinkedin.com/company/phpa-ii-bhutan

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

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M&A

Investments

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Frequently asked questions about phpa ii bhutan