Indian Renewable Energy Development Agency Limited (IREDA) has signed a joint venture agreement with SJVN Limited, GMR Energy Limited, and Nepal Electricity Authority (NEA) to develop the 900 MW Upper Karnali Hydropower Project in Nepal.
The agreement outlines the project’s framework for development, construction, operation, and maintenance under a build own operate transfer model. The project will have a 25-year term starting from its commercial operation date.