Indian Renewable Energy Development Agency Limited (IREDA) has signed a Memorandum of Understanding (MoU) with SJVN Limited and GMR Energy Limited for the establishment of a 900 MW Upper Karnali hydro-electric project in Nepal. This partnership will increase the development of renewable energy infrastructure and improve regional energy security.
In August 2024, IREDA secured a ‘BBB-’ long-term and ‘A-3’ short-term issuer credit rating from S&P Global Ratings Limited. In July 2024, they announced plans to invest approximately Rs 2.9 billion in a 900 MW hydroelectric power project in Nepal.
