IREDA to Invest in 900 MW Hydroelectric Power Project in Nepal

The Indian Renewable Energy Development Agency Limited (IREDA) is a public sector enterprise in India that provides financial assistance and services for projects focused on renewable energy and energy efficiency/conservation. Established in 1987, IREDA is a Navratna organization owned by the Government of India and is administratively controlled by the Ministry of New and Renewable Energy (MNRE).

Strategic Investment in Upper Karnali Project

The Indian Renewable Energy Development Agency (IREDA) announced on Wednesday its decision to invest Rs 290 crore in a significant hydroelectric power project in Nepal. The board of directors at IREDA has given in-principle approval for this equity investment, amounting to a 10% stake in the Upper Karnali Hydro-Electric Power Project. This 900 MW project is a major step towards utilising Nepal’s substantial hydropower potential. Pradip Kumar Das, chairman and managing director of IREDA, stated, “This strategic investment aligns with our commitment to expanding renewable energy infrastructure and fostering international collaboration in the sector.”

Regional Energy Security and Sustainable Development

The Upper Karnali project is expected to significantly contribute to regional energy security and sustainable development. By investing in this hydroelectric project, IREDA aims to support the harnessing of renewable energy sources, thereby promoting sustainable growth and energy independence in the region. The project not only emphasises the potential of hydropower in Nepal but also highlights the importance of international cooperation in achieving energy goals.

Financials

Conclusion: IREDA’s Rs 290 crore investment in Nepal’s Upper Karnali Hydro-Electric Power Project marks a significant milestone in renewable energy development and international collaboration. This strategic move is poised to enhance regional energy security and contribute to sustainable development, aligning with IREDA’s long-term vision of expanding renewable energy infrastructure.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.