IREDA, SJVN, GMR, NEP Join Forces for Ambitious Nepal Hydropower Project
India, Nepal to build 900 MW Upper Karnali Hydropower Project
New Delhi: Indian state-owned Indian Renewable Energy Development Agency (IREDA) SJVN Ltd, GMR Energy Ltd and state-owned entity Nepal Electricity Authority (NEA) signed a joint venture agreement for Nepal's Upper Karnali Hydropower Project on Thursday.
The BOOT model will be employed with the project term being 25 years from its CoD. This partnership will help the cause of regional energy security and increase the growth of renewable energy in South Asia.
Agreement Details
Party to Agreement
IREDA is a non-banking financial institution operating directly under the MNRE, mainly concentrating on funding of renewable energy projects.
SJVN Ltd and GMR Energy Ltd: Indian Companies with prior experience in hydroelectric and infrastructure projects
Nepal Electricity Authority (NEA): NEA is the State-owned undertaking in Nepal which deals with generation, transmission and distribution of electricity.
Project Informat
