Indian Renewable Energy Development Agency Limited (IREDA) has committed to investing in a 900 MW hydroelectric power project in Nepal. This investment, approximately Rs 290 crore, will secure IREDA up to a 10 percent shareholding in both GMR Upper Karnali Hydro Power Limited, Nepal, and Karnali Transmission Company Pvt. Ltd., Nepal. This strategic move, in collaboration with SJVN Limited, aims to support the establishment of the 900 MW Upper Karnali Hydro-Electric Power Project in Nepal. The project is subject to approval from the Government of India and other regulatory authorities.
The Board of Directors of IREDA granted in-principle approval for this equity investment at their recent meeting. IREDA’s Chairman & Managing Director, Pradip Kumar Das, stated, “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 current shareholders in GMR Upper Karnali Hydro Power Limited, Nepal. The inclusion of IREDA and SJVN Limited in the project underscores a strong regional collaboration aimed at enhancing renewable energy capacity and ensuring energy independence.
