GMR Energy Inks JDA With IFC

GMR Infrastructure’s arm, GMR Energy, has signed a Joint Development Agreement (JDA) with the International Finance Corporation (IFC), the private sector lending arm of the World Bank, to jointly develop the prestigious Upper Marsyangdi-2 hydropower project (600 MW) in Nepal.

The 600 MW Upper Marsyangdi-2 Project is located on the Marsyangdi River, in the Manang and Lamjung districts of Nepal, which is in an advanced stage of development. The project is currently being undertaken by Himtal Hydro Power Company, a subsidiary of GMR Energy.

The Government of Nepal has identified the proposed Upper Marsyangdi-ll as one of the National Priority Projects and it is being facilitated by the Investment Board of Nepal (IBN). The project has completed all survey and investigation works, finalized the feasibility studies and has already received a majority of clearances from the Government of Nepal. The Project Development Agreement is expected to be signed early next year.

Team Industry 2.0
December 22, 2013