IREDA to Invest Rs 290 Crore in Nepal's 900 MW Hydroelectric Power Project

State-owned IREDA announced it will invest Rs 290 crore in a 900 MW hydroelectric power project in Nepal. The Board of Directors approved the equity investment. Chairman Pradip Kumar Das emphasized the importance of the investment for regional energy security and sustainable development.

State-owned IREDA has announced a significant investment of Rs 290 crore in a 900 MW hydroelectric power project in Nepal. This project aims to harness the hydroelectric potential of Nepal, contributing to both regional energy security and sustainable development.

On Tuesday, the Board of Directors of IREDA approved the equity investment in the Upper Karnali Hydro-Electric Power Project, in principle. This decision was conveyed through a company statement on Wednesday.

Pradip Kumar Das, Chairman & Managing Director of IREDA, stated, "This strategic investment aligns with our commitment to expanding renewable energy infrastructure and fostering international collaboration in the sector." The company will acquire a 10 per cent stake in the project.

(With inputs from agencies.)