IREDA will invest Rs 290 crore in a 900 MW hydroelectric power project in Nepal, aiming to expand renewable energy infrastructure and foster international collaboration.
New Delhi, Jul 17 (PTI) State-owned IREDA on Wednesday said the company will invest Rs 290 crore in a 900 MW hydroelectric power project in Nepal.
The Board of Directors of IREDA gave in-principle approval for the equity investment at a meeting on Tuesday, the company said in a statement.
Pradip Kumar Das, Chairman & Managing Director, IREDA, said, "This strategic investment aligns with our commitment to expanding renewable energy infrastructure and fostering international collaboration in the sector. The 900 MW project is a significant step towards harnessing Hydropower potential in Nepal, contributing to regional energy security and sustainable development."
The company will pick up a 10 per cent stake in the Upper Karnali Hydro-Electric Power Project.
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