India headquartered consumer technology brand, CMF today announced the launch of its most intelligent smartwatch yet, CMF Watch 3 Pro in India. Designed for everyday users and casual fitness explorers, Watch 3 Pro combines precision health tracking, AI-powered coaching, and a bold visual identity to help users move smart and stay in the know.
The Watch 3 Pro features a bright 1.43” AMOLED display housed in a precision-milled metal body, combining style with durability for all-day wear. The device is equipped with dual-band multi-system GPS for faster and more accurate tracking, along with an AI-powered custom running coach that adapts to individual fitness levels. It also offers comprehensive health tracking, including heart rate, sleep, SpO2 and stress monitoring, alongside AI-led post-workout insights to support smarter training and recovery. With up to 13 days of battery life, Watch 3 Pro is built for consistent, reliable performance.
Available in Light Green, Dark Grey, Light Grey and Orange, CMF Watch 3 Pro will be priced at ₹7,999, with a special launch price of ₹6,999 for a limited period. Early access starts May 07, 2026, with sales beginning May 08, 2026 on Flipkart and leading retail stores across India.
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Wednesday, May 6, 2026
Samsung Solve For Tomorrow 2026 Entries Open From May 7; Applications Closes July 3
· Students can apply through the following link: samsung.com/in/solvefortomorrow
Samsung India today announced the launch of Samsung Solve for Tomorrow (SFT) 2026, its flagship global Corporate Citizenship Program, inviting young innovators to develop impactful solutions for real-world challenges. Applications open on May 7, 2026, and will remain open until July July 3, 2026.
Aligned with Samsung’s vision, “Together for Tomorrow! Enabling People,” the 6-month innovation competition continues to empower youth by transforming ideas into scalable solutions and giving them a platform to drive meaningful change.
The 2026 edition will run as a 6-month innovation competition across four distinct themes, with each track evaluated independently:
AI Living for India: AI-led solutions for inclusive innovation
Health & Education: Affordable tech for better access
Sport & Tech: Innovation to enhance performance and inclusion
Environmental Sustainability: Solutions for climate and resource efficiency
The program is open to Indian nationals aged 14–22 years, who can apply individually or in teams of up to three members.
Participation is completely free of cost, ensuring accessibility for students across diverse backgrounds.
Students can apply through the following link: samsung.com/in/solvefortomorrow
Samsung India today announced the launch of Samsung Solve for Tomorrow (SFT) 2026, its flagship global Corporate Citizenship Program, inviting young innovators to develop impactful solutions for real-world challenges. Applications open on May 7, 2026, and will remain open until July July 3, 2026.
Aligned with Samsung’s vision, “Together for Tomorrow! Enabling People,” the 6-month innovation competition continues to empower youth by transforming ideas into scalable solutions and giving them a platform to drive meaningful change.
The 2026 edition will run as a 6-month innovation competition across four distinct themes, with each track evaluated independently:
AI Living for India: AI-led solutions for inclusive innovation
Health & Education: Affordable tech for better access
Sport & Tech: Innovation to enhance performance and inclusion
Environmental Sustainability: Solutions for climate and resource efficiency
The program is open to Indian nationals aged 14–22 years, who can apply individually or in teams of up to three members.
Participation is completely free of cost, ensuring accessibility for students across diverse backgrounds.
Students can apply through the following link: samsung.com/in/solvefortomorrow
Epochs Of Whisky: Then, Now & Beyond At The Blue Bar, Taj West End
Mark World Whisky Day with an immersive cocktail journey at The Blue Bar, Taj West End, Bengaluru, as it presents “Epochs of Whisky: Then, Now & Beyond” — a thoughtfully curated celebration of whisky’s enduring legacy and evolving artistry. From 16th to 20th May 2026, this limited-period experience invites guests to explore whisky through time, reimagined across generations of mixology.
Designed as a multi-sensory narrative, the experience unfolds across three distinct eras — Past, Present, and Future — offering a layered exploration of how whisky cocktails have evolved. Guests can select a signature serve and experience its interpretation across all three epochs, creating a seamless journey through tradition, innovation, and experimentation.
The journey begins with The Past, a tribute to origin and simplicity, where cocktails are crafted using classic recipes, traditional techniques, and minimal garnishes. It transitions into The Present, reflecting contemporary global bar culture with premium ingredients, refined balance, and modern presentation. Looking ahead, The Future showcases technique-driven creativity, featuring advanced methods such as fat-washing, sous-vide infusions, clarification, aromatic vapours, and zero-waste innovations — redefining the boundaries of whisky mixology.
Set within the intimate, art-filled ambience of The Blue Bar, the experience is designed for discerning whisky enthusiasts and curious connoisseurs alike — offering a rare opportunity to taste the past, present, and future of whisky in a single, thoughtfully crafted journey.
Venue: The Blue Bar, Taj West End, Bengaluru
Dates: 16 May – 20 May 2026
Time: 7:00 PM – 11:00 PM
Price: INR 1,200 (All Inclusive)
Raise a glass to whisky’s timeless evolution — where every sip tells a story across eras.
Designed as a multi-sensory narrative, the experience unfolds across three distinct eras — Past, Present, and Future — offering a layered exploration of how whisky cocktails have evolved. Guests can select a signature serve and experience its interpretation across all three epochs, creating a seamless journey through tradition, innovation, and experimentation.
The journey begins with The Past, a tribute to origin and simplicity, where cocktails are crafted using classic recipes, traditional techniques, and minimal garnishes. It transitions into The Present, reflecting contemporary global bar culture with premium ingredients, refined balance, and modern presentation. Looking ahead, The Future showcases technique-driven creativity, featuring advanced methods such as fat-washing, sous-vide infusions, clarification, aromatic vapours, and zero-waste innovations — redefining the boundaries of whisky mixology.
Set within the intimate, art-filled ambience of The Blue Bar, the experience is designed for discerning whisky enthusiasts and curious connoisseurs alike — offering a rare opportunity to taste the past, present, and future of whisky in a single, thoughtfully crafted journey.
Venue: The Blue Bar, Taj West End, Bengaluru
Dates: 16 May – 20 May 2026
Time: 7:00 PM – 11:00 PM
Price: INR 1,200 (All Inclusive)
Raise a glass to whisky’s timeless evolution — where every sip tells a story across eras.
Fossil Celebrates Mother’s Day With An Immersive ‘Mom Is The Moment’ Experience
This Mother’s Day, Fossil brought its Mom is the Moment campaign to life through a thoughtfully curated, summer-inspired experience at Luuma House, Mumbai, celebrating modern motherhood through moments, memories, and meaningful gifting. The event welcomed celebrities including Athiya Shetty, Amrita Rao and Juhi Godambe, who joined the celebration and experienced the immersive afternoon.
Designed as a light, immersive setting, the space reflected a fresh, citrus-toned aesthetic with soft florals, lemon-inspired accents, and interactive touchpoints that invited guests to slow down and engage. The experience translated the spirit of the campaign into a physical environment, one that felt warm, personal, and effortlessly expressive.
At the heart of the event was the Mom’s New Minis collection, a series of vintage-inspired watches reimagined with refined mini dials for a contemporary sensibility. Displayed as lifestyle pieces within elevated, citrus-inspired installations, the watches were presented not just as accessories, but as keepsakes that hold meaning over time.
Speaking about the experience, Johnson Verghese, Managing Director, Fossil India, said: “With ‘Mom is the Moment’, we wanted to create something that felt truly personal, not just in what we offer, but in how people experience the brand. This event was designed to celebrate modern mothers in a way that feels warm, expressive, and meaningful. From personalisation to storytelling, every element was intended to reflect how style today is deeply connected to memory and individuality.”
Guests were invited to engage with a series of interactive experiences. A Poem For You offered a personalized poetry corner where stories shared by guests were transformed into live-typed verses, a thoughtful keepsake to take home. At Charm Your Summer, attendees created their own charm jewellery using curated seasonal elements, adding a playful, creative dimension to the afternoon. The Ride the Moment installation, with its vibrant scooter setup, became a photo-friendly highlight, capturing candid, joy-filled memories.
Extending the spirit of personalisation, guests also explored engraving options on watches, reinforcing the idea of gifting something deeply individual and lasting.
Through this experience, Fossil continues to strengthen its positioning as a lifestyle brand that blends timeless design with emotional storytelling, creating pieces, and moments, that stay with you over time.
About Fossil:
Fossil is a leading global lifestyle accessories brand inspired by creativity and ingenuity, dedicated to connecting people to what matters most: time. Fossil takes pride in creating timeless and exceptionally crafted watches, leather goods and jewelry—designed to accompany you on every journey life presents. As a trailblazer in the industry, Fossil brings innovation and style to its accessories, while also working diligently to Make Time For Good™, a platform created to enact positive change for the brand’s people and communities.
Designed as a light, immersive setting, the space reflected a fresh, citrus-toned aesthetic with soft florals, lemon-inspired accents, and interactive touchpoints that invited guests to slow down and engage. The experience translated the spirit of the campaign into a physical environment, one that felt warm, personal, and effortlessly expressive.
At the heart of the event was the Mom’s New Minis collection, a series of vintage-inspired watches reimagined with refined mini dials for a contemporary sensibility. Displayed as lifestyle pieces within elevated, citrus-inspired installations, the watches were presented not just as accessories, but as keepsakes that hold meaning over time.
Speaking about the experience, Johnson Verghese, Managing Director, Fossil India, said: “With ‘Mom is the Moment’, we wanted to create something that felt truly personal, not just in what we offer, but in how people experience the brand. This event was designed to celebrate modern mothers in a way that feels warm, expressive, and meaningful. From personalisation to storytelling, every element was intended to reflect how style today is deeply connected to memory and individuality.”
Guests were invited to engage with a series of interactive experiences. A Poem For You offered a personalized poetry corner where stories shared by guests were transformed into live-typed verses, a thoughtful keepsake to take home. At Charm Your Summer, attendees created their own charm jewellery using curated seasonal elements, adding a playful, creative dimension to the afternoon. The Ride the Moment installation, with its vibrant scooter setup, became a photo-friendly highlight, capturing candid, joy-filled memories.
Extending the spirit of personalisation, guests also explored engraving options on watches, reinforcing the idea of gifting something deeply individual and lasting.
Through this experience, Fossil continues to strengthen its positioning as a lifestyle brand that blends timeless design with emotional storytelling, creating pieces, and moments, that stay with you over time.
About Fossil:
Fossil is a leading global lifestyle accessories brand inspired by creativity and ingenuity, dedicated to connecting people to what matters most: time. Fossil takes pride in creating timeless and exceptionally crafted watches, leather goods and jewelry—designed to accompany you on every journey life presents. As a trailblazer in the industry, Fossil brings innovation and style to its accessories, while also working diligently to Make Time For Good™, a platform created to enact positive change for the brand’s people and communities.
Tata Motors Launches The All‑New Ace Gold+ XL; Reaffirms 21 Years Of Progress With ‘Ikkis Saal Bemisaal’ Campaign
Celebrating 21 years of the iconic Tata Ace, Tata Motors, India’s largest commercial vehicle manufacturer, today marked a key milestone in last‑mile mobility with the launch of the all‑new Tata Ace Gold+ XL. Thoughtfully evolved for higher payloads and longer body applications, the new variant extends the Ace portfolio to meet the changing needs of last‑mile logistics. The Ace Gold+ XL carries forward the legacy of a nameplate that reshaped small cargo movement in India and continues to support the aspirations of a growing and diverse entrepreneur base.
To mark the milestone, Tata Motors has also rolled out the ‘Ikkis Saal Bemisaal’ campaign—a nationwide initiative celebrating the entrepreneurs who have built their livelihoods with the ‘Chota Haathi’ at the heart of their businesses. The campaign brings together customer‑centric initiatives, including additional benefits of up to ₹21,000 for women entrepreneurs, reinforcing Tata Motors’ long‑standing commitment to inclusive growth.
Launching the new model, Mr. Pinaki Haldar, Vice President & Business Head – SCVPU, Tata Motors Ltd., said, “With the launch of the all‑new Ace Gold+ XL, Tata Motors advances the next chapter of India’s most transformative commercial vehicle—one that continues to evolve to meet the needs of modern intra‑city and last‑mile logistics. Extending the Ace’s relevance into higher‑load applications, the Ace Gold+ XL is designed to deliver greater efficiency, reliability, and pride of ownership for today’s entrepreneurs.
Launched in 2005, the Tata Ace pioneered India’s four‑wheel small commercial vehicle category, and redefined last‑mile logistics by enabling entrepreneurship at scale. The Ace’s enduring relevance is reflected in an industry‑first milestone: for 21 years, one Ace has been sold every 4.25 minutes—earning the trust, respect, and loyalty of over 26 lakh owners across the country.”
All‑New Tata Ace Gold+ XL: More Load. More Earnings. More Value.
The Ace Gold+ XL has been engineered to directly improve owner profitability. With a longer 8‑foot load body and a 1‑tonne payload capacity, it enables higher cargo volume per trip—translating into better utilisation and stronger earning potential across demanding delivery cycles.
Powered by advanced Lean NOx Trap (LNT) technology, the Ace Gold+ XL eliminates the need for Diesel Exhaust Fluid (DEF), reducing both operating complexity and maintenance effort. The result is a lower Total Cost of Ownership, improved uptime, and greater peace of mind—key considerations for entrepreneurs who rely on their vehicle every day. The Ace Gold+ XL is powered by a 700cc turbocharged diesel engine, delivering 22 PS of power and 55 Nm of torque—engineered for consistent, dependable performance across demanding last‑mile operations.
Together, these enhancements make the Ace Gold+ XL a compelling upgrade for existing Ace owners and a strong entry point for new entrepreneurs joining India’s fast‑growing last‑mile ecosystem.
Backed by a Strong SCV Ecosystem
The Tata Ace Gold+ XL is supported by Tata Motors’ comprehensive small commercial vehicle ecosystem. The company’s portfolio—spanning Ace Pro, Ace, Intra, and Yodha—serves payload requirements from 750 kg to 2 tonnes and is available across diesel, petrol, CNG, bi‑fuel, and electric powertrains.
This is complemented by Sampoorna Seva 2.0, Tata Motors’ end‑to‑end lifecycle support programme, along with a nationwide network of 2,500+ service and spares outlets and the Star Guru ecosystem of trained technicians—ensuring customers are supported at every stage of ownership.
With the all‑new Ace Gold+ XL, Tata Motors reinforces its commitment to powering India’s entrepreneurial growth—carrying forward a legacy that has shaped livelihoods, strengthened logistics, and delivered progress, one journey at a time.
About Tata Motors Ltd (Formerly TML Commercial Vehicles Ltd):
Part of the USD 180 billion Tata Group, Tata Motors Ltd., (BSE: Scrip code 544569; NSE: Scrip code TMCV) is India’s largest and a globally renowned manufacturer of utility vehicles, pick-ups, trucks, and buses. With over eight decades of leadership in commercial mobility, the company is known for its innovation, reliability, and performance. Its advanced powertrains, connected technologies, and intelligent fleet solutions support a wide range of applications—from last-mile delivery to public transport while seamlessly driving the wheels of the nation’s economy. Guided by its brand promise Better Always, Tata Motors delivers future-ready solutions that enhance customer experience and drive sustainable growth. The company operates in India and South Korea, with a global presence across Africa, the Middle East, Latin America, Southeast Asia, and SAARC countries.
As per the Composite Scheme of Arrangement sanctioned by the Hon’ble National Company Law Tribunal, Mumbai Bench—amongst Tata Motors Limited, TML Commercial Vehicles Limited (the Company) and Tata Motors Passenger Vehicles Limited—the Company’s name was changed to Tata Motors Limited from TML Commercial Vehicles Limited (effective 29 October 2025), and its equity shares are listed on the BSE Ltd and the National Stock Exchange of India Limited.
To mark the milestone, Tata Motors has also rolled out the ‘Ikkis Saal Bemisaal’ campaign—a nationwide initiative celebrating the entrepreneurs who have built their livelihoods with the ‘Chota Haathi’ at the heart of their businesses. The campaign brings together customer‑centric initiatives, including additional benefits of up to ₹21,000 for women entrepreneurs, reinforcing Tata Motors’ long‑standing commitment to inclusive growth.
Launching the new model, Mr. Pinaki Haldar, Vice President & Business Head – SCVPU, Tata Motors Ltd., said, “With the launch of the all‑new Ace Gold+ XL, Tata Motors advances the next chapter of India’s most transformative commercial vehicle—one that continues to evolve to meet the needs of modern intra‑city and last‑mile logistics. Extending the Ace’s relevance into higher‑load applications, the Ace Gold+ XL is designed to deliver greater efficiency, reliability, and pride of ownership for today’s entrepreneurs.
Launched in 2005, the Tata Ace pioneered India’s four‑wheel small commercial vehicle category, and redefined last‑mile logistics by enabling entrepreneurship at scale. The Ace’s enduring relevance is reflected in an industry‑first milestone: for 21 years, one Ace has been sold every 4.25 minutes—earning the trust, respect, and loyalty of over 26 lakh owners across the country.”
All‑New Tata Ace Gold+ XL: More Load. More Earnings. More Value.
The Ace Gold+ XL has been engineered to directly improve owner profitability. With a longer 8‑foot load body and a 1‑tonne payload capacity, it enables higher cargo volume per trip—translating into better utilisation and stronger earning potential across demanding delivery cycles.
Powered by advanced Lean NOx Trap (LNT) technology, the Ace Gold+ XL eliminates the need for Diesel Exhaust Fluid (DEF), reducing both operating complexity and maintenance effort. The result is a lower Total Cost of Ownership, improved uptime, and greater peace of mind—key considerations for entrepreneurs who rely on their vehicle every day. The Ace Gold+ XL is powered by a 700cc turbocharged diesel engine, delivering 22 PS of power and 55 Nm of torque—engineered for consistent, dependable performance across demanding last‑mile operations.
Together, these enhancements make the Ace Gold+ XL a compelling upgrade for existing Ace owners and a strong entry point for new entrepreneurs joining India’s fast‑growing last‑mile ecosystem.
Backed by a Strong SCV Ecosystem
The Tata Ace Gold+ XL is supported by Tata Motors’ comprehensive small commercial vehicle ecosystem. The company’s portfolio—spanning Ace Pro, Ace, Intra, and Yodha—serves payload requirements from 750 kg to 2 tonnes and is available across diesel, petrol, CNG, bi‑fuel, and electric powertrains.
This is complemented by Sampoorna Seva 2.0, Tata Motors’ end‑to‑end lifecycle support programme, along with a nationwide network of 2,500+ service and spares outlets and the Star Guru ecosystem of trained technicians—ensuring customers are supported at every stage of ownership.
With the all‑new Ace Gold+ XL, Tata Motors reinforces its commitment to powering India’s entrepreneurial growth—carrying forward a legacy that has shaped livelihoods, strengthened logistics, and delivered progress, one journey at a time.
About Tata Motors Ltd (Formerly TML Commercial Vehicles Ltd):
Part of the USD 180 billion Tata Group, Tata Motors Ltd., (BSE: Scrip code 544569; NSE: Scrip code TMCV) is India’s largest and a globally renowned manufacturer of utility vehicles, pick-ups, trucks, and buses. With over eight decades of leadership in commercial mobility, the company is known for its innovation, reliability, and performance. Its advanced powertrains, connected technologies, and intelligent fleet solutions support a wide range of applications—from last-mile delivery to public transport while seamlessly driving the wheels of the nation’s economy. Guided by its brand promise Better Always, Tata Motors delivers future-ready solutions that enhance customer experience and drive sustainable growth. The company operates in India and South Korea, with a global presence across Africa, the Middle East, Latin America, Southeast Asia, and SAARC countries.
As per the Composite Scheme of Arrangement sanctioned by the Hon’ble National Company Law Tribunal, Mumbai Bench—amongst Tata Motors Limited, TML Commercial Vehicles Limited (the Company) and Tata Motors Passenger Vehicles Limited—the Company’s name was changed to Tata Motors Limited from TML Commercial Vehicles Limited (effective 29 October 2025), and its equity shares are listed on the BSE Ltd and the National Stock Exchange of India Limited.
New Zealand Deepens India Engagement With ‘Kia Ora India’ Multi-City Series
* Engages 500+ students across New Delhi, Jaipur, Chandigarh and Pune, highlighting future-focused learning and global pathways
Education New Zealand Manapou ki te Ao (ENZ) has successfully concluded phase 1 of the multi-city Kia Ora India series across New Delhi, Jaipur, Chandigarh and Pune, engaging over 500 students, parents, educators and counsellors in exploring higher education opportunities in New Zealand.
Kia Ora India is ENZ’s flagship initiative designed to build meaningful connections between Indian learners and New Zealand’s education ecosystem. Across all four cities, the series showcased New Zealand’s distinctive approach to education, one that is student-centered, future-focused and grounded in real-world learning.
The series featured interactions with representatives from leading New Zealand institutions, expert led NZ EdTalks, and discussions on future-ready skills, global exposure, holistic learning and student wellbeing.
Kia Ora India saw participation from all eight New Zealand universities all of which are ranked in the top 2% of the universities in the world (QS world). Also present at the event were New Zealand’s government funded Institutes of Technology and Polytechnics (ITPs) and a range of niche private training establishments. Learners engaged directly with representatives from institutions including the University of Auckland, Auckland University of Technology, University of Waikato, Victoria University of Wellington, Massey University, University of Otago, University of Canterbury, Lincoln University, Wintec, NMIT, NZSEG, Whitireia & WelTec, Whitecliffe College, UP Education, ATMC, Le Cordon Bleu New Zealand and ICA.
Jugnu Roy, Director of Engagement, East Asia and India, Education New Zealand, said: “Kia Ora India is about creating meaningful connections and helping students make informed choices. Across cities, we saw strong engagement from students and parents, who are looking for education that is both academically strong and relevant to a rapidly evolving global landscape. There is a clear emphasis on practical learning, global exposure and a safe welcoming environment. New Zealand’s education approach aligns closely with these expectations, and initiatives like this help bring these conversations closer to students.”
India remains a key growth market for Education New Zealand, with growing interest from students seeking high-quality, globally relevant education pathways. New Zealand’s reputation for safety, stability, peace and student wellbeing further strengthens its position as a preferred study destination.
Education New Zealand Manapou ki te Ao (ENZ) has successfully concluded phase 1 of the multi-city Kia Ora India series across New Delhi, Jaipur, Chandigarh and Pune, engaging over 500 students, parents, educators and counsellors in exploring higher education opportunities in New Zealand.
Kia Ora India is ENZ’s flagship initiative designed to build meaningful connections between Indian learners and New Zealand’s education ecosystem. Across all four cities, the series showcased New Zealand’s distinctive approach to education, one that is student-centered, future-focused and grounded in real-world learning.
The series featured interactions with representatives from leading New Zealand institutions, expert led NZ EdTalks, and discussions on future-ready skills, global exposure, holistic learning and student wellbeing.
Kia Ora India saw participation from all eight New Zealand universities all of which are ranked in the top 2% of the universities in the world (QS world). Also present at the event were New Zealand’s government funded Institutes of Technology and Polytechnics (ITPs) and a range of niche private training establishments. Learners engaged directly with representatives from institutions including the University of Auckland, Auckland University of Technology, University of Waikato, Victoria University of Wellington, Massey University, University of Otago, University of Canterbury, Lincoln University, Wintec, NMIT, NZSEG, Whitireia & WelTec, Whitecliffe College, UP Education, ATMC, Le Cordon Bleu New Zealand and ICA.
Jugnu Roy, Director of Engagement, East Asia and India, Education New Zealand, said: “Kia Ora India is about creating meaningful connections and helping students make informed choices. Across cities, we saw strong engagement from students and parents, who are looking for education that is both academically strong and relevant to a rapidly evolving global landscape. There is a clear emphasis on practical learning, global exposure and a safe welcoming environment. New Zealand’s education approach aligns closely with these expectations, and initiatives like this help bring these conversations closer to students.”
India remains a key growth market for Education New Zealand, with growing interest from students seeking high-quality, globally relevant education pathways. New Zealand’s reputation for safety, stability, peace and student wellbeing further strengthens its position as a preferred study destination.
Tuesday, May 5, 2026
The Royal Government Of Bhutan And World Bank Sign Financing Agreements For Dorjilung Hydroelectric Power Project
The Royal Government of Bhutan and the World Bank today signed financing agreements totaling $515 million for the 1,125 MW Dorjilung Hydroelectric Power Project, which will account for about one-third of the Kingdom’s total energy generation, drive economic growth through access to affordable electricity and clean energy exports, and create new jobs.
"The Dorjilung Hydroelectric Power Project is a cornerstone of Bhutan’s 13th Five-Year Plan and will be the Kingdom’s largest hydropower project developed under a public-private partnership. This transformational investment will supply clean energy, spur economic growth, and advance our carbon-negative commitment," said Dasho Tshering Tobgay, Prime Minister of Bhutan. "This project is a testament to our strong partnership with the World Bank Group and our shared vision for a sustainable and prosperous future for Bhutan’s people.”
The project, located on the Kurichhu River in eastern Bhutan, will generate over 4,500 GWh of clean electricity annually, closing Bhutan's seasonal energy gap during the winter months and providing surplus power for export to India in the summer and rainy seasons.
The hydropower plant is expected to increase Bhutan’s GDP by 2.4%. It will generate economy-wide benefits, create direct and indirect jobs as well as entrepreneurial opportunities for Bhutan. It will boost manufacturing, tourism, and small businesses by supplying reliable and affordable electricity, with the revenues from energy exports available for reinvestment in essential services such as health, education, and infrastructure. It will also have an important regional impact by displacing 3.3 million tons of CO2 annually and facilitating clean energy trade.
"The Dorjilung Hydroelectric Power Project is unique for Bhutan and the World Bank Group. The innovative financing model, which brings together public and private capital, sets a new standard for sustainable infrastructure development,” said Johannes Zutt, World Bank Vice President for the South Asia Region. “The benefits will be far‑reaching for Bhutan and South Asia. Bhutan will be able to reduce costly energy imports and earn revenues from energy exports, while South Asia will reduce carbon emissions and diversify its energy sources.”
“The Dorjilung Hydroelectric Power Project is a national priority and will be transformational for Bhutan—delivering clean electricity, spurring economic growth and advancing our carbon‑negative commitment,” said H.E. Lyonpo Lekey Dorji, Finance Minister of Bhutan. “Its innovative financing structure ensures that this project does not unduly burden public finances, allowing us to continue investing in our people."
"This project marks a transformative shift in Bhutan’s energy sector and opens the door for scaling this financing model across the hydropower sector," said Dasho Chhewang Rinzin, Managing Director of the Druk Green Power Corporation. "It is designed to provide critical grid flexibility, allowing us to manage seasonal shortfalls while maximizing export revenues. We are deeply committed to the project’s rigorous environmental standards and maintaining Bhutan’s standing as a carbon-negative country."
Earlier this year, the World Bank Group’s Board of Executive Directors approved $300 million in concessional financing from the International Development Association (IDA), of which $150 million is a grant; $215 million in financing from the International Bank for Reconstruction and Development (IBRD); and up to $300 million from the International Finance Corporation (IFC) to Dorjilung Hydro Power Limited (DHPL), which is a Special Purpose Vehicle entity jointly owned by Bhutan’s Druk Green Power Corporation (60 percent) and Tata Power (40 percent), India’s largest private integrated power company. The Project will boost clean energy cooperation between India and Bhutan and strengthen regional energy security.
Dr Praveer Sinha, CEO&MD Tata Power said, “We thank the Royal Government of Bhutan, the World Bank Group, and Druk Green Power Corporation for their partnership in advancing the 1,125 MW Dorjilung project. The signing of $515 million in financing agreements marks a momentous milestone for a project that will contribute nearly one-third of Bhutan’s electricity generation. This landmark project will strengthen regional energy security and deepen India–Bhutan clean energy cooperation. With nearly 80% of its 4,500 GWh annual generation supplied to India, it will help meet rising peak demand especially in summer while enabling Bhutan to expand clean energy exports for shared economic benefit.”
The estimated $1.7 billion project is structured as an innovative public-private partnership to minimize sovereign borrowing. The financing is expected to catalyze an additional $900 million in private sector financing. This unique financing structure enables Bhutan, with only $150 million direct credit exposure, to cover the $1.7 billion project cost and cumulatively earn about $4 billion of revenues through taxes, free power, and equity dividends over the 30-year IDA credit period.
Today, Dasho Leki Wangmo, Finance Secretary, Royal Government of Bhutan and Jean Pesme, World Bank Division Director for Bangladesh and Bhutan signed the $300 million IDA financing and $215 million IBRD financing on behalf of Bhutan and the World Bank, respectively.
“Amid global fuel supply disruptions, the Dorjilung Hydroelectric Power Project represents a model for building energy security that is clean, sustainable and resilient,” said Xavier Furtado, the World Bank Group’s Country Manager for Bhutan. “The World Bank Group brought together IDA, IBRD, and IFC to deliver an innovative financing package that enables a project of this scale while protecting Bhutan’s debt sustainability.”
"The Dorjilung Hydroelectric Power Project is a cornerstone of Bhutan’s 13th Five-Year Plan and will be the Kingdom’s largest hydropower project developed under a public-private partnership. This transformational investment will supply clean energy, spur economic growth, and advance our carbon-negative commitment," said Dasho Tshering Tobgay, Prime Minister of Bhutan. "This project is a testament to our strong partnership with the World Bank Group and our shared vision for a sustainable and prosperous future for Bhutan’s people.”
The project, located on the Kurichhu River in eastern Bhutan, will generate over 4,500 GWh of clean electricity annually, closing Bhutan's seasonal energy gap during the winter months and providing surplus power for export to India in the summer and rainy seasons.
The hydropower plant is expected to increase Bhutan’s GDP by 2.4%. It will generate economy-wide benefits, create direct and indirect jobs as well as entrepreneurial opportunities for Bhutan. It will boost manufacturing, tourism, and small businesses by supplying reliable and affordable electricity, with the revenues from energy exports available for reinvestment in essential services such as health, education, and infrastructure. It will also have an important regional impact by displacing 3.3 million tons of CO2 annually and facilitating clean energy trade.
"The Dorjilung Hydroelectric Power Project is unique for Bhutan and the World Bank Group. The innovative financing model, which brings together public and private capital, sets a new standard for sustainable infrastructure development,” said Johannes Zutt, World Bank Vice President for the South Asia Region. “The benefits will be far‑reaching for Bhutan and South Asia. Bhutan will be able to reduce costly energy imports and earn revenues from energy exports, while South Asia will reduce carbon emissions and diversify its energy sources.”
“The Dorjilung Hydroelectric Power Project is a national priority and will be transformational for Bhutan—delivering clean electricity, spurring economic growth and advancing our carbon‑negative commitment,” said H.E. Lyonpo Lekey Dorji, Finance Minister of Bhutan. “Its innovative financing structure ensures that this project does not unduly burden public finances, allowing us to continue investing in our people."
"This project marks a transformative shift in Bhutan’s energy sector and opens the door for scaling this financing model across the hydropower sector," said Dasho Chhewang Rinzin, Managing Director of the Druk Green Power Corporation. "It is designed to provide critical grid flexibility, allowing us to manage seasonal shortfalls while maximizing export revenues. We are deeply committed to the project’s rigorous environmental standards and maintaining Bhutan’s standing as a carbon-negative country."
Earlier this year, the World Bank Group’s Board of Executive Directors approved $300 million in concessional financing from the International Development Association (IDA), of which $150 million is a grant; $215 million in financing from the International Bank for Reconstruction and Development (IBRD); and up to $300 million from the International Finance Corporation (IFC) to Dorjilung Hydro Power Limited (DHPL), which is a Special Purpose Vehicle entity jointly owned by Bhutan’s Druk Green Power Corporation (60 percent) and Tata Power (40 percent), India’s largest private integrated power company. The Project will boost clean energy cooperation between India and Bhutan and strengthen regional energy security.
Dr Praveer Sinha, CEO&MD Tata Power said, “We thank the Royal Government of Bhutan, the World Bank Group, and Druk Green Power Corporation for their partnership in advancing the 1,125 MW Dorjilung project. The signing of $515 million in financing agreements marks a momentous milestone for a project that will contribute nearly one-third of Bhutan’s electricity generation. This landmark project will strengthen regional energy security and deepen India–Bhutan clean energy cooperation. With nearly 80% of its 4,500 GWh annual generation supplied to India, it will help meet rising peak demand especially in summer while enabling Bhutan to expand clean energy exports for shared economic benefit.”
The estimated $1.7 billion project is structured as an innovative public-private partnership to minimize sovereign borrowing. The financing is expected to catalyze an additional $900 million in private sector financing. This unique financing structure enables Bhutan, with only $150 million direct credit exposure, to cover the $1.7 billion project cost and cumulatively earn about $4 billion of revenues through taxes, free power, and equity dividends over the 30-year IDA credit period.
Today, Dasho Leki Wangmo, Finance Secretary, Royal Government of Bhutan and Jean Pesme, World Bank Division Director for Bangladesh and Bhutan signed the $300 million IDA financing and $215 million IBRD financing on behalf of Bhutan and the World Bank, respectively.
“Amid global fuel supply disruptions, the Dorjilung Hydroelectric Power Project represents a model for building energy security that is clean, sustainable and resilient,” said Xavier Furtado, the World Bank Group’s Country Manager for Bhutan. “The World Bank Group brought together IDA, IBRD, and IFC to deliver an innovative financing package that enables a project of this scale while protecting Bhutan’s debt sustainability.”
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