IREDA Invests Rs 290 Crore in Nepal's Hydropower Expansion

The Indian Renewable Energy Development Agency (IREDA) has approved an equity investment of Rs 290 crore in a 900 MW hydroelectric power project in Nepal. This significant decision was made during the Board of Directors meeting held on July 16, 2024.

This strategic move is part of IREDA's broader mission to bolster renewable energy infrastructure and enhance international cooperation in the energy sector. The project, located on the Karnali River, aims to tap into Nepal's vast hydropower potential, contributing to the country's energy security and sustainable growth.

The Upper Karnali hydropower project is set to play a pivotal role in regional energy dynamics. IREDA's investment will secure a 10 percent shareholding in the project, underscoring India's commitment to renewable energy development beyond its borders.

This initiative not only supports Nepal's energy goals but also aligns with India's vision of fostering green energy and reducing carbon footprints in the region. The collaboration is expected to bring significant economic and environmental benefits, strengthening ties between the two nations.

In conclusion, IREDA's Rs 290 crore investment marks a noteworthy milestone in regional renewable energy collaboration, promising a sustainable and secure energy future for both India and Nepal.

News by Rahul Yelligetti