The Indian Renewable Energy Development Agency Limited (IREDA) has partnered with SJVN Ltd., GMR Energy Ltd., and Nepal Electricity Authority (NEA) to jointly develop the 900 MW Upper Karnali Hydroelectric Project in Nepal.
This collaboration, aimed at enhancing regional energy security and promoting renewable energy, establishes a detailed plan for the project under the Build-Own-Operate-Transfer (BOOT) model, with a 25-year operational period starting from its Commercial Operation Date (CoD).
The agreement was signed in New Delhi on Thursday in the presence of senior representatives from IREDA, SJVN, and GMR Energy Ltd. IREDA CMD Pradip Kumar Das highlighted the significance of the initiative, describing it as a milestone for sustainable energy in the region. He emphasised that the Upper Karnali project will demonstrate the potential of cross-border partnerships to deliver substantial economic and environmental benefits.
