Indian Renewable Energy Development Agency Limited (IREDA) has decided to invest in a 900 MW
Hydroelectric power project in Nepal. The approximately Rs. 290 Crore investment will secure
IREDA up to 10% shareholding in 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 seting up 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.
Shri Pradip Kumar Das, Chairman & 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 underscores a strong regional collaboration aimed at enhancing renewable energy
capacity and ensuring energy independence.
