KATHMANDU: India’s Renewable Energy Development Agency Limited (IREDA) is set to make an investment in Nepal, acquiring a 10 percent stake in Upper Karnali.
This move underscores IREDA’s commitment to bolstering Nepal’s renewable energy sector, particularly in hydropower generation and transmission infrastructure.
According to reports from India’s Economic Times, it plans to secure a 10 percent share in Upper Karnali Hydropower Limited and Karnali Transmission Company, marking a strategic move in Nepal’s energy landscape.
This initiative is closely tied to the development of the 900 MW Upper Karnali Hydroelectric Power Project by SJVN.
IREDA’s potential investment hinges on approval from Indian regulatory authorities, following a favorable response from its recent Board of Directors meeting endorsing the Nepal investment plan.
Discussions have also centered on expanding renewable energy infrastructure and promoting international cooperation through the International Energy Corporation for incentives, the report said.
“We are committed to advancing renewable energy infrastructure and fostering international partnerships,” stated Pradeep Kumar Das, President and Managing Director of IREDA.
He emphasized that this investment aims to support Nepal’s energy production capabilities and enhance regional energy security.
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