Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: The Ministry of Energy, Water Resources and Irrigation of Nepal has granted the electricity generation license to the 439-megawatt semi-reservoir-based Betan Karnali Hydropower Project, marking a major breakthrough for the project that had faced years of bureaucratic delays.
The license was handed over to Shrikrishna Prasad Acharya, CEO of Betan Karnali Sanchayakarta Hydropower Company Ltd., by Energy Secretary Suresh Acharya at a formal event held at the Ministry. The Secretary urged the company to complete the project on time and reiterated the government’s full support toward its timely execution.
The license was issued following a secretary-level decision, with Energy Minister Dipak Khadka playing a crucial role in accelerating the process. Coordination was made with India’s Upper Karnali Hydropower Project, resolving earlier bureaucratic and diplomatic hurdles. Lawmakers from Karnali and Sudurpashchim Provinces, including Pushpa Bahadur Shah, Sher Bahadur Kunwar, and Hridayaram Thami, were present during the license handover ceremony.
Managing Director Krishna Prasad Acharya expressed gratitude to Energy Minister Khadka, Secretary Acharya, Department of Electricity Development DG Navin Singh, and Investment Board Nepal CEO Sushil Gyewali for their facilitation through complex diplomatic channels. He also reaffirmed the company’s strong commitment to complete the project within the scheduled time frame.
The estimated project cost is around NPR 93 billion. The investment structure includes:
15% from the Employees Provident Fund (EPF)
10% from Nepal Electricity Authority (NEA)
10% from Electricity Generation Company Ltd. (EGCL)
An additional 40% will be contributed by EPF depositors and civil servants, while 25% will come from local communities and the general public.
Although financial closure is expected to be challenging, the involvement of major institutional investors is believed to ensure the project’s success. The company aims to begin immediate construction and complete the project within five years.
This project is anticipated to be a game changer in Nepal’s hydropower generation strategy and reflects growing momentum in the country’s energy and infrastructure development, which holds significance not only for domestic energy security but also for regional electricity trade with India and potential buyers in South Asia.
Your email address will not be published. Required fields are marked *
Comment *
Name *
Email *
Website
Save my name, email, and website in this browser for the next time I comment.
