Indian Renewable Energy Development Agency (IREDA) will invest Rs 290 crore in a 900 MW hydroelectric power project in Nepal. The Board of Directors of IREDA gave in-principle approval for the equity investment at a meeting on 16 July, 2024.
This strategic investment aligns with the state transmission utility's commitment to expanding renewable energy infrastructure and fostering international collaboration in the sector. The project being developed on the Karnali river is a significant step towards harnessing hydropower potential in Nepal, and would contribute to regional energy security and sustainable development.
This investment, amounting to approx. Rs 290 crore, will secure IREDA a 10 percent shareholding in Upper Karnali hydro power project.