As per the NEA Spokesperson Prabal Adhikari, the total capacity of the projects is 1,051 MW.

All the projects have private sector investments and their promoters were urged to complete the fiscal management soon.

Among the companies that signed the deal with NEA, Arati Hydro Power Company had signed the agreement on the very first day of the current fiscal and has also acquired the generation license for the 14 MW Upper Irkhuwa Hydropower Project in Bhojpur district.

Likewise, NEA signed the purchase agreement for 12 MW Dudhukunda Khola hydropower project in Sankhuwasabha and the 1.5 MW upper Gadigadh Project.

It will also be signing a PPA for 12 additional projects totaling to 70 MW capacity in future.

The Nepal Government aims to generate 15,000 MW power by the next 10 years making Nepal a self-sufficient country in terms of power production.

NEA Opts for Take-or-Pay Modality
Meanwhile, a long dispute between Nepal’s Energy Ministry and Nepal Electrical Authority was put to rest on December 11, 2018 after the latter agreed to sign PPAs with run-of-the-river hydro projects under the take-‘or’-pay modality, until their combined installed capacity is at 5,250 MW.

According to an important source from the authority, the Board of Directors of NEA decided to convert all the take-‘and’-pay projects into take-‘or’-pay modality. This also includes signing future pacts under the same.

It also allows NEA to buy and pay for energy from hydro projects as and when needed. As per the new system, it has to buy the required amount of electricity or pay a fine if it fails to do so.

Currently, NEA still has a combined installed capacity of 1,247 MW in the take-‘and’-pay-format.

Initially, the electrical authority was hesitant to adopt the take-‘or’-pay modality. However, the board meeting chaired by Energy Minister Barsha Man Pun took this decision.

The post NEA Attests 52 Project Power Agreements in 5 Months appeared first on Nepali Sansar.

Nepali Ambassador to Bahrain Padam Sundas interacted with the local Nepali community including representatives of various organizations and the Non-Resident Nepali Association (NRNA) at the Nepali Embassy in Manama on July 6, 2018.

As part of the meet, the Nepali envoy called on Nepalis in Bahrain to properly utilize their incomes in Bahrain in order to start investing in their home country.

In this meet organized by the Deputy Chief of Mission Khagaraj Adhikari, Chartered Accountant Ramesh Dhital highlighted Nepal’s economic indicators, investment potential, related procedures & tax policies along with key areas of focus for making investment.

Investment from Japan
In another interesting update, the Nepali Ministry of Energy, Water Resources and Irrigation (MoEWRI) welcomed Japanese investment in the country’s energy sector.

In a program organized by the Ministry, Energy Minister Barsha Man Pun called on the Japanese Ambassador to Nepal Masamichi Saigo to push for Japanese investment in Nepal’s Nalgadh hydropower project.

In the discussion, Pun informed Saigo that the project is one of the priorities for Nepal Government and is in a ready-to-develop condition.

We expect the Japanese Government to invest in the energy sector of Nepal and we also believe that the Japanese Government will help Nepal with financial assistance in the form of grants, soft loans and investments, Pun said in a statement.

This move is part of Nepal’s Government’s efforts to mark the 2018-2028 period as the ‘Decade of Energy and Hydropower’ under its ‘Prosperous Nepal, Happy Nepali’ goal.

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