Latest News | IREDA to Invest Rs 290 Cr in 900 MW Project in Nepal

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.

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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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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)