IREDA Signs MoU with SJVN and GMR for 900 MW Hydropower Project in Nepal
Indian Renewable Energy Development Agency has signed a MoU with SJVN Ltd., GMR Energy Ltd., and their associated companies for the development and implementation of the 900 MW Upper Karnali Hydro-electric Project in Nepal.
September 10, 2024. By EI News Network
The MoU was signed in the presence of Sushil Sharma, CMD, SJVN, Dr. B.K. Mohanty, Director (Finance), IREDA, Akhileshwar Singh, Director (Finance), SJVN, and other senior officials. S.K. Sharma, GM (F&A) IREDA, Jitendra Yadav, GM (F&A) SJVN, and S.N. Barde, CEO of GMR Energy Ltd., signed the MoU in New Delhi.
Commenting on the development, Pradip Kumar Das, Chairman and Managing Director of IREDA, said, “Our investment in this important hydropower project underscores IREDA’s ongoing commitment to advancing renewable energy initiatives. This collaboration not only accelerates the development of Nepal’s hydropower sector but also strengthens regional energy cooperation, supporting our shared goal of sustainable growth.”
The project holds strategic importance for IREDA, as it will help harness Nepal’s vast hydropower potential while reinforcing IREDA’s dedication to renewable energy development. IREDA’s Board of Directors granted in-principle approval for the project during their meeting on July 16, 2024.
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