Checkmate China; India To Power Nepal's Upper Karnali Hydro-Electric Project: These Listed Companies To Benefit

The Indian Renewable Energy Development Agency (IREDA) has signed an agreement with SJVN, GMR and NEA on Friday to develop a hydro-electric project in Nepal.

IREDA has entered a Joint Venture Agreement with these firms for the development of the 900 MW Upper Karnali Hydro-electric Project in Nepal.

The pact was signed in New Delhi and it outlines a framework for the project's development, construction, operation, and maintenance under a Build-Own-Operate-Transfer (BOOT) model.

The project has a 25-year term from its Commercial Operation Date (CoD).

“This agreement marks a significant step towards realizing our collective vision of sustainable energy development in the region. By leveraging Hydropower's vast potential, the Upper Karnali project will serve as a model of cross-border collaboration, delivering both economic and environmental benefits,” said Pradip Kumar Das, CMD of IREDA.

The joint venture is expected to bolster regional energy security and support the growth of renewable energy infrastructure. Senior officials from all the organisations were present during the signing of the agreement.