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Kathmandu — The government has cleared the way to move forward with financial closure with the Indian company GMR, which has secured the 900-megawatt Upper Karnali Hydropower Project. With the full text of the directive order issued in the writ petition filed at the Supreme Court now released, the Office of the Investment Board has found it easier to proceed with the financial management…

Nearly two decades after it was first proposed, Indian multinational conglomerate GMR has finally started the process for construction of the 900-megawatt Upper Karnali Hydropower Project. The long-delayed project, first envisioned in 2006, took a big step forward on July 8 when GMR Upper Karnali Hydropower Ltd invited bids for construction works. According to the tender notice, the project has…

Indian Renewable Energy Development Agency’s (IREDA) dropped 1.20% to Rs 147.90 after the Reserve Bank of India (RBI) rejected the company’s request for equity investment in the 900 MW Upper Karnali Hydropower Project in Nepal. This decision was communicated to IREDA via a letter dated 7 March 2025. IREDA had sought the investment to fund the development and implementation of the hydroelectric…

State-owned Ireda has finalised a joint venture agreement with SJVN, GMR Energy and the Nepal Electricity Authority to set up a 900 megawatt hydropower project in Nepal. The agreement for the 900 MW Upper Karnali hydro-electric project was formalised in New Delhi on Thursday, in the presence of senior officials from Ireda, SJVN, and GMR Energy. In a statement on Thursday, Ireda said, “It has…

Indian Renewable Energy Development Agency (IREDA) on Monday said it has inked initial pacts with SJVN and GMR Energy for the development and implementation of the 900 MW Upper Karnali hydro-electric project in Nepal. This collaboration aims to enhance regional energy security through the development of renewable energy infrastructure, a statement said. Pradip Kumar Das, Chairman & Managing…

Kathmandu — The government has extended the deadline for the 900 MW Upper Karnali Hydropower Project, which was awarded construction permission to the Indian company GMR (Gandhi Mallikarjun Rao), by 186 days. The Cabinet meeting on July 25 decided to grant only the 186 days lost due to an interim order issued by the Supreme Court after a case was filed regarding the financial management of Upper…

IREDA share price: The scrip moved 6.06 per cent down to close at Rs 272.25. At this price, it has slipped 12.18 per cent from its all-time high of Rs 310, a level seen on July 15. Indian Renewable Energy Development Agency (IREDA) Ltd on Tuesday said its Board approved an equity investment of up to 10 per cent shareholding in GMR Upper Karnali Hydro Power Ltd and Karnali Transmission Company Pvt…