India and Bhutan signed the first Indo-Bhutan joint venture hydroelectric project on 29 June 2020. The agreement will pave the way for the commencement of its construction and other related works. The agreement was signed by the Bhutanese government and the Kholongchhu Hydro Energy Limited in the virtual presence of the Union Minister of External Affairs S Jaishankar and his Bhutanese counterpart Tandi Dorji.