IREDA Teams Up with SJVN and GMR for Big Hydropower Project in Nepal
New Delhi [India], September 10: The Indian Renewable Energy Development Agency (IREDA) has signed a Memorandum of Understanding (MoU) with SJVN, GMR Energy, and their associated companies to develop a 900 MW hydroelectric project in Nepal. This project, called the Upper Karnali Hydro-electric Project, aims to boost regional energy security by expanding renewable energy infrastructure.
According to a company statement, IREDA will assist in both the development and implementation phases of the project. This partnership is expected to significantly impact the renewable energy landscape, contributing to the growth of hydropower in Nepal and fostering energy cooperation between India and Nepal.
The MoU signing ceremony in New Delhi was attended by key figures from the involved organizations, including Sushil Sharma, Chairman and Managing Director of SJVN; B.K. Mohanty, Director of Finance at IREDA; Akhileshwar Singh, Director of Finance at SJVN; and other senior officials. S.K. Sharma, General Manager (Finance & Accounts) at IREDA; Jitendra Yadav, General Manager (Finance & Accounts) at SJVN; and S.N. Barde, Chief Executive Officer of GMR Energy Ltd., formalized the agreement.
IREDA’s Chairman and Managing Director, Pradip Kumar Das, emphasized the project’s importance, stating, “Our investment in this important hydropower project underscores IREDA’s ongoing commitment to advancing renewable energy initiatives. This collaboration not only accelerates the development of Nepal’s hydropower sector but also strengthens regional energy cooperation, supporting our shared goal of sustainable growth.”
The project is strategically important for IREDA as it allows the organization to tap into Nepal’s abundant hydropower resources. The initiative aligns with IREDA’s broader mission of expanding renewable energy projects. IREDA’s Board of Directors had already given in-principle approval for the Upper Karnali Hydroelectric Project during their meeting on July 16, 2024.
Doubts Revealed
IREDA -: IREDA stands for Indian Renewable Energy Development Agency. It is a government agency in India that helps develop and promote renewable energy projects.
SJVN -: SJVN is a company in India that works on power generation projects, especially hydroelectric power. It stands for Satluj Jal Vidyut Nigam.
GMR -: GMR is a large company in India that works in different sectors like energy, airports, and highways. GMR Energy is the part of the company that focuses on power projects.
Hydropower -: Hydropower is a way of generating electricity using the energy of flowing water, usually from rivers or dams.
Nepal -: Nepal is a country located to the north of India. It is known for its mountains, including Mount Everest, the highest peak in the world.
900 MW -: 900 MW stands for 900 Megawatts. It is a unit of power that measures how much electricity a power plant can produce.
Upper Karnali Hydro-electric Project -: This is the name of the hydropower project being developed in Nepal. It will use the water from the Karnali River to generate electricity.
MoU -: MoU stands for Memorandum of Understanding. It is a formal agreement between two or more parties to work together on a project.
New Delhi -: New Delhi is the capital city of India. It is where many important government buildings and offices are located.
Pradip Kumar Das -: Pradip Kumar Das is the Chairman of IREDA. He is an important person in the field of renewable energy in India.
Regional energy security -: This means making sure that a region, like South Asia, has enough energy resources to meet its needs without relying too much on other places.
Renewable energy infrastructure -: This refers to the systems and structures needed to produce energy from renewable sources like wind, solar, and water.