IREDA to Invest INR 290 Crore in Nepal's 900 MW Upper Karnali Hydro-Electric Power Project
This move by IREDA, in collaboration with SJVN Limited, aims to support the setting up of the 900 MW Upper Karnali Hydro-Electric Power Project in Nepal.
July 18, 2024. By Abha Rustagi
This move, in collaboration with SJVN Limited, aims to support the setting up of the 900 MW Upper Karnali Hydro-Electric Power Project in Nepal. The project will proceed subject to approval from the Government of India and other regulatory authorities. The Board of Directors of IREDA in its meeting held yesterday gave in-principle approval for this equity investment.
Pradip Kumar Das, Chairman and Managing Director, IREDA, said, "This strategic investment aligns with our commitment to expanding renewable energy infrastructure and fostering international collaboration in the sector. The 900 MW project is a significant step towards harnessing Hydropower potential in Nepal, contributing to regional energy security and sustainable development."
GMR and the Nepal Electricity Authority, Government of Nepal, are the existing shareholders in M/s GMR Upper Karnali Hydro Power Limited, Nepal. The inclusion of IREDA and SJVN Limited in the project highlights a strong regional collaboration aimed at enhancing renewable energy capacity and ensuring energy independence.
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