New Delhi, Jan 17 (IANS) The Indian Renewable Energy Development Agency Ltd. (IREDA) on Thursday finalised a joint venture agreement with SJVN Ltd., GMR Energy Ltd., and Nepal Electricity Authority (NEA) for the development of the 900 MW Upper Karnali Hydroelectric Project in Nepal as part of a strategic initiative aimed to strengthen regional energy security and accelerate renewable energy growth, according to an official statement.
The joint venture agreement lays out a comprehensive framework for the project development, construction, operation, and maintenance under a Build-Own-Operate-Transfer model, with a 25-year project term from the commercial operation date.
The agreement was formalised here in the presence of senior officials from the IREDA, SJVN, and GMR Energy Ltd.
In his remarks on the occasion, IREDA Chairman Pradip Kumar Das said: “This agreement marks a significant step towards realising our collective vision of sustainable energy development in the region. By leveraging Hydropower’s vast potential, the Upper Karnali project will serve as a model of cross-border collaboration, delivering both economic and environmental benefits.”
IREDA is India’s largest pure-play green financing NBFC which functions under the administrative control of the Ministry of New and Renewable Energy (MNRE). Its focus is on promoting, developing, and extending financial assistance for setting up projects relating to new and renewable sources of energy and energy conservation.
It has announced a 26.8 per cent jump in net profit to Rs 425.37 crore for the October-December quarter of the current financial year from the corresponding Rs 335.54 crore in the same quarter of the previous year.
The NBFC recorded a revenue of Rs 1,698.99 crore during the third quarter which represents a 35.57 per cent increase compared to Rs 1,253.20 crore in Q3 FY 2023-24.
IREDA’s loan sanctions for the third quarter recorded a 45.01 per cent surge to Rs 13,226.81 crore compared to Rs 9,121.11 crore in the same quarter of the previous year while loan disbursements for the quarter reached Rs 7,448.96 crore, up by 25.27 per cent from Rs 5,946.45 crore.
Its total loan book has expanded to a robust Rs 68,959.61 crore, showing a 36.34 per cent increase compared to Rs 50,579.67 crore in Q3 FY 2023-24. The company’s net worth has strengthened to Rs 9,842.07 crore, registering a 20.99 per cent growth from Rs 8,134.56 crore in Q3 FY 2023-24.
–IANS
sps/vd
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
