Managing Director MD of Nepal Electricity Authority NEA Kulman Ghising has said market for power export is getting assured.
Speaking at a programme to sign an agreement with 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, there will be a higher rate for power export from Nepal to these nations during the rainy season.
The EPF has previously made investments in hydropower projects such the Madhya Bhotekoshi, Upper Tamakoshi, Sanjen, and Rasuwagadhi.
The 99.8 megawatt Tamakoshi Fifth, which will be headquartered in Bigu Rural Municipality in Dolakha, is the only project in which the EPF would contribute Rs 13.74 billion.
The project’s entire cost, including interest from the time it was being built, is Rs 21.14 billion.
The People’s Hydropower Programme project will raise the remaining funds through the public sale of shares, which will be administered by an equity fund.
Financial management for the project is split 65 percent loan and 35 percent equity fund.
EPF administrator Jitendra Dhital, NEA managing director Ghishing, and company chief executive officer Binod Bhandari all signed the contract on behalf of their respective parties.
The Minister stated that the government had prioritized transmission system strengthening and hydropower output at the time.
He took his time to explain that Nepal needed and had the capacity for green energy. He emphasized the significance of meeting the project’s deadline.