Indian Renewable Energy Development Agency (IREDA) has entered into a Memorandum of Understanding (MoU) with SJVN, GMR Energy, and their associated companies to facilitate the development of a 900 MW hydroelectric project in Nepal. The Upper Karnali Hydro-electric Project, situated in Nepal, will be the focal point of this collaboration, aimed at enhancing regional energy security by expanding renewable energy infrastructure in the region.
IREDA’s role in the MoU includes providing assistance in both the development and implementation phases of the project. The partnership is expected to have a significant impact on the renewable energy landscape, contributing to the growth of hydropower in Nepal and fostering energy cooperation between India and its neighbour.
IREDA is a Public Limited Government Company established as a Non-Banking Financial Institution in 1987 engaged in promoting, developing and extending financial assistance for setting up projects relating to new and renewable sources of energy and energy efficiency/conservation with the motto: ‘Energy For Ever’.
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