Upper Karnali Official Records — IBN and DoED (2022–2026)

Summary

This source record combines two primary Government of Nepal records relevant to the Upper Karnali Hydroelectric Project: Investment Board Nepal's 2021/22 annual report and the Department of Electricity Development's registry updated 2 July 2026. Together they document a conditional financial-close extension and the project's current administrative registry listing.

Key Findings

Investment Board Nepal records that the Government of Nepal approved a two-year extension of the financial-close deadline in July 2022, subject to conditions.
The IBN record describes the developer as being in a process to meet the negotiation conditions; it does not report financial close as achieved.
The DoED registry updated 2 July 2026 lists Upper Karnali HEP at 900 MW on the Karnali River, with GMR Upper Karnali Hydropower Limited as promoter.
The DoED page places the project in its more-than-1-MW survey-licence table. That administrative listing establishes a current registry record, not construction, financing or PPA status.

Relevance

These official records provide a primary institutional baseline for Upper Karnali and distinguish a deadline extension or registry listing from achieved financial close, lender disbursement, executed offtake or construction commencement.

Limitations

Neither record contains an executed financing agreement, lender effectiveness notice, construction notice to proceed, signed buyer PPA or tripartite transit approval.
The IBN annual-report entry is historical and cannot establish the position after its reporting period.
The DoED registry's licence category is administrative; it should not be inferred to be a physical delivery-stage classification.