IREDA to Invest in 900MW Nepal Hydro Project in Collaboration with SJVN and GMR

Indian Renewable Energy Development Agency Ltd (IREDA) has signed a Memorandum of Understanding (MOU) with SJVN and GMR for setting up 900 MW Upper Kamali Hydro-Electric Power Project in Nepal. The Board of Directors in its meeting held on July 16, 2024, has accorded In-principle approval for equity investment of up to 10% shareholding each in M/s. GMR Upper Kamali Hydro Power Limited, Nepal, and M/s. Kamali Transmission Company Pvt. Ltd., Nepal, amounting to approximately Rs. 290 Crore for both the Special Purpose Vehicles (SPVs). The MOU was signed on 09.09.2024. The investment is subject to the approval from the Government of India, other statutory/regulatory authorities, as applicable.