SJVN, GMR, IREDA sign MoU for Upper Karnali Hydro Project in Nepal
SJVN, GMR Upper Karnali Hydro Power (GMR), and the Indian Renewable Energy Development Agency (IREDA) have signed a memorandum of understanding (MoU) to jointly develop the 900 MW Upper Karnali Hydro Electric Project in Nepal. SJVN and GMR will each hold a 34% stake, with IREDA taking 5%, while the remaining equity will be owned by the Nepal Electricity Authority (NEA). The project, with an estimated cost of Rs 91 billion, will be developed on a build, own, operate, and transfer (BOOT) model with a 25-year concession period post-commissioning.