Bhutan’s Ministry of Energy and Natural Resources has published an expression of interest document aimed at private sector developers seeking to develop unsolicited solar projects.
Available tender details invite Bhutanese Energy Service Providers and potential investors to register interest in developing solar projects, both rooftop and ground-mounted, under a build-own-operate basis.
To be eligible for the tender, applicants must be a legally registered company or prospective proponent in Bhutan with the capacity to contribute a minimum of 15% equity towards a proposed project.
As part of the initiative, the Bhutan Trust Fund for Environmental Conservation and United Nations Capital Development Fund plans to set up a green financing facility to catalyze private sector investment.
The facility will be a blended finance package consisting of 65-70% in senior debt supported by first-loss guarantees and 15-20% in concessional equity subordinated by low-cost capital, with the remaining 15% coming from the developer. The framework is targeting a total capacity of 100 MW across the commercial, education and other sectors.
Tender details add that this is a rolling call for expressions of interest, with the first deadline set for April 30. A virtual session offering the opportunity to ask questions is scheduled for April 3.
Bhutan’s cumulative solar capacity stood at 3 MW at the end of 2024, according to figures from the International Renewable Energy Agency (IRENA).
The country commissioned its first utility-scale solar plant, a 17.38 MW array, in mid-2025. It has since awarded a contract for a 120 MW solar project and has entered into separate agreements for solar and hydropower projects with capacities between 100 MW and 250 MW.
Bhutan’s current national energy policy, published last year, aims to reach 1 GW of solar capacity by 2030, increasing to 5 GW by 2040.
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