Pioneering Cross-Border Hydropower: IREDA's 900 MW Initiative

State-owned IREDA has partnered with SJVN, GMR Energy, and Nepal Electricity Authority to establish a 900 MW hydroelectric project in Nepal. This joint venture aims to enhance regional energy security and promote renewable energy through a Build-Own-Operate-Transfer model, enhancing both economic and environmental outcomes.

State-owned Indian Renewable Energy Development Agency (IREDA) has entered a joint venture with SJVN, GMR Energy, and Nepal Electricity Authority for a 900 megawatt hydropower project in Nepal. The project's formal agreement was signed in New Delhi on Thursday, attended by senior representatives from the partnering organizations.

The collaboration focuses on the 900 MW Upper Karnali hydroelectric project. This venture aims to bolster regional energy security and foster the growth of renewable energy. Under the Build-Own-Operate-Transfer (BOOT) model, the project will span 25 years from the Commercial Operation Date.

IREDA CMD Pradip Kumar Das emphasized the project's significance for sustainable energy in the region, calling it a model of cross-border cooperation with economic and environmental benefits. The initiative is under India's Ministry of New and Renewable Energy, with IREDA playing a crucial role in renewable energy projects and energy conservation efforts.

(With inputs from agencies.)