Indian Renewable Energy Development Agency (IREDA) has finalized a Joint Venture Agreement with SJVN, GMR Energy, and Nepal Electricity Authority (NEA) for the development of the 900 MW Upper Karnali Hydro-electric Project in Nepal. This strategic initiative aims to strengthen regional energy security and accelerate renewable energy growth.
The joint venture agreement lays out a comprehensive framework for the project development, construction, operation, and maintenance under a Build-Own-Operate-Transfer (BOOT) model, with 25-years project term from the Commercial Operation Date (CoD).
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’.
