The joint venture agreement lays out a comprehensive framework for the project development, construction, operation, and maintenance under a Build-Own-Operate-Transfer (BOOT) model, with 25-years project term from the Commercial Operation Date (CoD).

The agreement was formalized today in New Delhi in the presence of senior officials from IREDA, SJVN, and GMR Energy Ltd.

Speaking on the occasion, Shri Pradip Kumar Das, CMD, IREDA, said, “This agreement marks a significant step towards realizing 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.

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