IRDEA 290 Cr Investment in Nepal
State-owned IREDA approved a Rs 290 crore investment for a 10 percent stake in Nepal's 900 MW Upper Karnali Hydro-Electric Power Project. This decision was made by the Board of Directors on Tuesday. Chairman Pradip Kumar Das highlighted the strategic importance of this investment for renewable energy and hydropower in Nepal, which will boost regional energy security and sustainable development.
Pradip Kumar Das stated, "This strategic investment aligns with our commitment to expanding renewable energy infrastructure and fostering international collaboration in the sector. The 900 MW project is a significant step towards harnessing hydropower potential in Nepal, contributing to regional energy security and sustainable development."
GMR Upper Karnali Hydropower Ltd. part of GMR Energy, is the majority shareholder, with International Finance Corporation (IFC) InfraVentures as one of the project developers.
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