The Indian Renewable Energy Development Agency (IREDA) has announced a significant milestone with the signing of initial agreements with SJVN and GMR Energy for the development of the 900 MW Upper Karnali hydro-electric project in Nepal. This major collaboration is aimed at bolstering regional energy security through the advancement of renewable energy infrastructure.
The Upper Karnali hydro-electric project represents a substantial investment in hydropower, which is crucial for meeting the growing energy demands of the region. The project will contribute significantly to Nepal’s renewable energy capacity and support its efforts to harness its hydropower potential. By tapping into this resource, the project aims to provide a reliable and sustainable source of energy.
Pradip Kumar Das, Chairman and Managing Director of IREDA, highlighted the importance of this investment, stating that it reflects IREDA’s ongoing commitment to advancing renewable energy initiatives. He emphasized that the collaboration with SJVN and GMR Energy not only accelerates the development of Nepal’s hydropower sector but also strengthens regional energy cooperation.
The agreement underscores a shared goal of sustainable growth and regional energy stability. By working together, the involved parties aim to support a more integrated and resilient energy infrastructure, which will benefit both Nepal and the broader region.
This project is expected to play a pivotal role in enhancing energy security and promoting sustainable development. The commitment to developing renewable energy infrastructure aligns with the broader objective of reducing reliance on fossil fuels and advancing environmental sustainability.
