New Delhi: Indian Renewable Energy Development Agency (IREDA) Limited has signed a memorandum of understanding (MoU) with SJVN Limited, GMR Energy Limited, and their associated companies for the development and implementation of the 900 MW Upper Karnali Hydro-electric Project in Nepal on Monday. This collaboration aims to enhance regional energy security through the development of renewable energy infrastructure.
The MoU has been signed in the presence of SJVN Limited's CMD Sushil Sharma, IREDA's Director (Finance) Dr BK Mohanty, SJVN's Director (Finance) Akhileshwar Singh and other senior officials. IREDA General Manager (F&A) SK Sharma, GM (F&A) Jitendra Yadav and CEO of GMR Energy SN Barde signed the MoU in New Delhi.
Highlighted the significance of the initiative, IREDA's Chairman & Managing Director (CMD) Pradip Kumar Das 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.
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