IREDA to invest ₹290 crore in Nepal’s 900 MW hydroelectric project – EQ
In Short : The Indian Renewable Energy Development Agency (IREDA) plans to invest ₹290 crore in Nepal’s 900 MW hydroelectric project. This investment aims to enhance renewable energy collaboration between India and Nepal, promoting sustainable energy development in the region.
In Detail : The Board of Directors of IREDA gave in-principle approval for the equity investment at a meeting on Tuesday, the company said in a statement.
State-owned IREDA on Wednesday said the company will invest ₹290 crore in a 900 MW hydroelectric power project in Nepal.
The Board of Directors of IREDA gave in-principle approval for the equity investment at a meeting on Tuesday, the company said in a statement.
Pradip Kumar Das, Chairman & Managing Director, IREDA, said, “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.”
The company will pick up a 10 per cent stake in the Upper Karnali Hydro-Electric Power Project.
