First Business News Portal in English from Nepal
KATHMANDU: The Investment Board Nepal (IBN) has permitted NHPC Limited, India, to carry out study of 450 MW Seti River-6 Hydropower Project.
Seeking the government approval, the Indian company applied at the IBN on February 16. Recently, the Chief Executive Officer of the IBN Sushil Bhatta handed over the study license to the Director General of the NHPC Ashok Kumar Joshi.
As per an agreement, the Indian company will have to submit the preliminary study report within three months, while it will require submitting the detailed project report (DPR) in the next 21 months from the date of finalizing the preliminary study. The proposed project will be constructed in Doti and Achham districts.
The IBN signed the agreement with the NHPC on August 18, 2022 to conduct a detailed project study survey permit of 750 MW West Seti and 450 MW Seti River 6 hydropower projects.
Subsequently, the IBN on October 20 permitted the Indian company to carry out a preliminary study of the 750 MW West Seti Reservoir Hydropower Project.
On January 19, the Indian company submitted an inception report of the 750 MW West Seti Hydroelectric Project to the IBN. Following the development, the NHPC has been entrusted to carry out the DPR of the national pride project.
Both the projects will cost an estimated Rs 300 billion. Of the amount, NHPC has pledged to invest Rs 288 billion (INR 180 billion). As per the agreement, Nepal will also get 21.9 percent free energy from the West Seti Hydropower Project.
After scraping the agreement with the Chinese company, the 51st meeting of the IBN decided to entrust the construction of the West Seti Hydroelectric Project with an indicative connected capacity of 750 MW and the Seti River-6 Hydroelectric Project with an indicative connected capacity of 450 MW to the Indian company NHPC.
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