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Source- This post on the Upper Karnali Hydro-Electric Power Project has been created based on the article “IREDA to invest ₹290 crore in Nepal’s 900 MW hydroelectric project” published in “Economic Times” on 23 July 2024.
Why in the news?
The Indian Renewable Energy Development Agency Limited (IREDA) is investing approximately ₹290 crore in the Upper Karnali Hydro-Electric Power Project.
About Upper Karnali Hydro-Electric Power Project
i) The Upper Karnali Hydro-Electric Power Project is a 900 MW run-of-the-river hydropower project being developed on the Karnali River in Nepal.
ii) It will supply power to Nepal, India, and Bangladesh for a contracted period of 25 years.
iii) The Government of Nepal awarded the project to GMR Upper Karnali Hydro Power Limited (GUKHL), a subsidiary of GMR Group India, under a memorandum of understanding (MoU) signed in January 2008.
iv) GMR is developing the project on a build-own-operate-transfer (BOOT) basis. As part of the MoU with GMR, the Nepal Government received 27% free equity in the project.
v) The project is estimated to generate 3,466 million units of electricity annually, while offsetting approximately two million tons of greenhouse gas emissions each year.
vi) Key features of the project include a concrete gravity dam, headrace tunnels, a fish pass, feeder tunnels, surge and pressure shafts, and silt flushing tunnels.
About Indian Renewable Energy Development Agency Limited (IREDA)
i) IREDA is a Mini Ratna (Category I) Government of India Enterprise under the administrative control of the Ministry of New and Renewable Energy (MNRE).
ii) It was established in 1987 as a non-banking financial institution.
iii) IREDA is engaged in promoting, developing, and providing financial assistance for projects related to new and renewable sources of energy and energy efficiency/conservation.
iv) The agency’s motto is “ENERGY FOR EVER.”
About Karnali River
i) The Karnali River is a perennial trans-boundary river originating in the Himalaya Mountains on the Nepal side of the Tibet border, near the sacred Mt. Kailash.
ii) It is the longest and largest river in Nepal, stretching 315 miles. Over 90% of the river’s basin lies within Nepal.
iii) The Karnali River cuts through the Himalayas in Nepal and joins the Sharda River at Brahmaghat in India.
iv) Together, they form the Ghaghara River, a major left-bank tributary of the Ganges.
UPSC Syllabus: Indian Economy
