Thursday, March 28th, 2024

Nepal India News: India is getting a hydroelectric project as a gift from Nepal, know everything about it


Kathmandu:Is the Government of Nepal gifting India a hydroelectric project in Nepal with a production capacity of 669 MW? Maybe yes. The 53rd meeting of the Board of Investment Nepal, chaired by Prime Minister Pushpa Kamal Dahal Prachanda, on Thursday evening approved an investment of Rs 92.68 billion proposed by India’s state-owned Sutlej Hydropower Corporation (SJVN) for the development of the 669 MW Lower Arun Hydroelectric Project. Gave. This is the third project commissioned on the Arun River, after the 900 MW Arun-3 and 695 MW Arun-4 hydroelectric projects. The investment cost of Arun 3 is $1.04 billion.

work on another project
SJVN is currently developing another hydroelectric project, Arun 3, in the same river basin. Nepal is also considering giving the Phukot Karnali Hydro Electric Project to India’s NHPC. The installed capacity of the project is 480 MW. Some other agreements are expected to be signed during Prime Minister Prachanda’s visit to India in May. According to a statement issued by the Investment Board, the Board of Directors decided to form a Project Development Agreement Negotiation Committee headed by the Chief Executive Officer of the Board, directing it to submit a consensus document to the Board.
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how much electricity will be generated
The three projects will generate about 2,300 MW of electricity from the river in eastern Nepal. SJVN is nearing completion of Arun 3 project. During Prime Minister Narendra Modi’s visit to Lumbini, Nepal, the two sides signed an agreement for the development of Arun-IV on behalf of their respective governments. In July 2021, Nepal signed an agreement with India’s state-owned SJVN to develop the 679 MW Lower Arun Hydroelectric Project in eastern Nepal.

report will be presented
The $1.3 billion project, the largest foreign investment project as of 2017 cost estimates, is located in the Sankhuwasabha and Bhojpur districts of eastern Nepal. At the time of signing of the MoU in 2021, SJVN will complete the detailed project study of the project and submit the detailed project report for approval to the Board within two years from the date of agreement. With the completion of the study, the government is now all set to award the development of the project to SJVN.
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SJVN Chairman and Managing Director Nand Lal Sharma told the Indian media last year that they aim to have 5,000 MW of electricity generating projects in Nepal by 2030. In August last year, Nepal formally handed over the much-awaited West Seti Hydroelectric Project and Seti River Project in western Nepal to India through a dialogue window, nearly four years after China backed out.

Nepal has no other option

Investment Board Nepal signed a memorandum of understanding (MoU) with India’s state-owned NHPC Limited to develop two projects—West Seti and Seti River (SR6)—storage projects totaling 1,200 MW. Many in Kathmandu believe that Nepal has no choice but to give some potential hydropower projects to India, after India refuses to buy the invested energy from other than its own investors.

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