IREDA signs MoU with SJVN, GMR for 900 MW hydro project in Nepal

The Indian Renewable Energy Development Agency (IREDA) had announced that it had signed initial agreements with SJVN and GMR Energy for the development and implementation of the 900 MW Upper Karnali hydro-electric project in Nepal. This collaboration was aimed at enhancing regional energy security through the development of renewable energy infrastructure, according to a statement.

Pradip Kumar Das, Chairman and Managing Director of IREDA, had reportedly remarked that their investment in the hydropower project highlighted IREDA’s ongoing commitment to advancing renewable energy initiatives. He had added that the collaboration would not only accelerate the development of Nepal’s hydropower sector but also strengthen regional energy cooperation, supporting their shared goal of sustainable growth.

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This move aims to enhance IREDA's capabilities and extend its reach beyond domestic borders.

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Das proposed that IREDA be included under Section 54EC of the Income Tax Act.

IREDA to invest Rs 2.90 billion in Nepal's 900 MW hydro project

This strategic investment is in partnership with SJVN.