IREDA Partners With SJVN, GMR Energy For 900 MW Upper Karnali Hydro Project In Nepal
This partnership is set to boost regional energy security by advancing renewable energy infrastructure.
A hydro power project. (Photo on Unsplash)
Indian Renewable Energy Development Agency Ltd. announced on Monday that it has signed preliminary agreements with SJVN and GMR Energy for the development and implementation of the 900 MW Upper Karnali hydroelectric project in Nepal.
This partnership is set to boost regional energy security by advancing renewable energy infrastructure, according to a statement.
Pradip Kumar Das, Chairman & Managing Director of IREDA, said, “Our investment in this important hydropower project underscores IREDA’s ongoing commitment to advancing renewable energy initiatives. This collaboration not only accelerates the development of Nepal’s hydropower sector but also strengthens regional energy cooperation, supporting our shared goal of sustainable growth," said Pradip Kumar Das, chairman and managing director of IREDA.
The project holds strategic importance for IREDA, as it will help harness Nepal’s vast hydropower potential while reinforcing IREDA’s dedication to renewable energy development.
The stock fell as much as 2.97% during the day to Rs 220.64 apiece on the NSE. The stock closed 1.86% lower at Rs 223.17 per share. This compares with a 0.34% advance in the benchmark Nifty 50. It has risen 271.95% in the last 12 months and 113.25% year-to-date.
(With Inputs From PTI)
