IREDA's Investment in Nepal Upper Karnali Hydropower Project

IREDA's Investment in Upper Karnali Project

• Indian Renewable Energy Development Agency (IREDA) to invest Rs 290 crore in Nepal's Upper Karnali Hydro-Electric Power Project.
• Investment represents a 10% stake in the 900 MW project.
• IREDA's board of directors gave in-principle approval for this equity investment.
• Pradip Kumar Das, IREDA's chairman and managing director, stated the investment aligns with their commitment to expanding renewable energy infrastructure and fostering international collaboration.
• The investment aims to enhance regional energy security and promote sustainable development.

Upper Karnali Hydro-Electric Power Project Details

• 900 MW run-of-river hydropower project on the Karnali River in Nepal.
• Will supply power to Nepal, India, and Bangladesh for 25 years.
• Awarded to GMR Upper Karnali Hydro Power Limited (GUKHL), a subsidiary of GMR Group India, in 2008.
• Developed on a build-own-operate-transfer (BOOT) basis.
• Nepal Government received 27% free equity in the project.
• Expected to generate 3,466 million units of electricity annually.
• Will offset approximately two million tons of greenhouse gas emissions each year.
• Key features include a concrete gravity dam, headrace tunnels, fish pass, and silt flushing tunnels.

About IREDA

• Indian Renewable Energy Development Agency (IREDA)
• Mini Ratna (Category I) Government of India Enterprise.
• Under the administrative control of the Ministry of New and Renewable Energy (MNRE).
• Established in 1987 as a non-banking financial institution.
• Promotes, develops, and provides financial assistance for renewable energy and energy efficiency projects.
• Motto: "ENERGY FOR EVER"
• Public sector enterprise providing financial assistance and services for renewable energy projects.
• Navratna organization owned by the Government of India.

Karnali River and Regional Significance

• Perennial trans-boundary river originating in the Himalaya Mountains.
• Longest and largest river in Nepal, stretching 315 miles.
• Over 90% of the river's basin lies within Nepal.
• Cuts through the Himalayas and joins the Sharda River at Brahmaghat in India.
• Forms the Ghaghara River, a major left-bank tributary of the Ganges.
• The project highlights the importance of international cooperation in achieving energy goals.
• Utilizes Nepal's substantial hydropower potential.