Market for power export getting assured: NEA managing director Ghising

Kathmandu: Nepal Electricity Authority (NEA) managing director Kulman Ghising has said the market for power export is getting assured.

Speaking at a program to sign an agreement with the Employees Provident Fund (EPF) for investing in Tamakoshi Fifth Hydropower Project, Ghising said, 'India and Bangladesh are eager to purchase power from Nepal.'

According to Ghising, power export from Nepal to these countries during a rainy season will get a better rate. The EPF has already invested in hydropower Projects like Upper Tamakoshi, Sanjen, Rasuwagadhi, and Madhya Bhotekoshi.

The EPF is to invest Rs. 13.74 billion solely in the 99.8 megawatt- Tamakoshi Fifth to be based in Bigu rural municipality in Dolakha. The total cost of the project including the interests of the construction period is Rs .21.14 billion.

The remaining amount for the project that has been included in the People's Hydropower Program will be raised and managed by an equity fund through the sale of shares to the public.

The project's financial management is 65 percent loan and 35 percent equity fund. The tri-party agreement among the NEA projects promoter Tamakoshi Hydropower Company and EPF was signed in the presence of Minister for Energy, Water Resources, and Irrigation, Shakti Basnet, on Sunday.

NEA managing director Ghising, EPF administrator Jitendra Dhital and Company Chief Executive Officer Binod Bhandari signed the agreement paper on behalf of their respective sides. On the occasion, the Minister said the government prioritized hydropower production and strengthening of transmission systems. He took time to say that Nepal had potential for green energy and it was also its need. He stressed the need of completing the project on time.

RSS