World News | India's NHPC Gets Licence to Study 1200 MW Hydropower Projects in Nepal

Kathmandu, Oct 20 (PTI) The Investment Board Nepal issued a survey license to India's NHPC Limited on Thursday to carry out a study of two large hydropower projects with a combined capacity of 1200 MW in the Himalayan nation.

IBN Chief Executive Officer Sushil Bhatta handed over the study licence to Deputy Director of NHPC Ashok Kumar Joshi, according to a statement issued by the IBN.

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The NHPC applied at the IBN for acquiring the study licence for the 750 MW West Seti Reservoir Hydropower Project and 450 MW Seti River – 6 Hydropower Project last month.

According to the agreement, the Indian company will have to submit a preliminary report of the survey within three months to the IBN, while it needs to submit the detailed project report (DPR) in the next 21 months.

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The Nepal government signed a memorandum of understanding (MoU) with NHPC on August 18 for the development of the two projects.

NHPC had already signed a power purchase agreement with Power Trade Corporation India Limited (PTC), an entity of the Indian government, to sell its production.

Both projects will cost an estimated Nepali rupees 268 billion (USD 2 billion).

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)