Following Energy Minister Barsha Man Pun’s directions, the state-owned Hydro-electricity Investment and Development Company Limited (HIDCL) created the scheme to welcome maximum people’s participation in the development of these government projects.

According to the scheme, people can now buy shares by paying 10 percent of the original cost at the initial public offering. The remaining amount can be paid in a 50:40 ratio where 50 percent will be paid prior to 80% of construction progress and 40 percent has to be paid when the project is almost due for completion.

“If the public is allowed to make investments this way, the financial burden will be less, and a larger section of the population can invest in such projects. Also, the people will feel that their investment is secure as they will be making payments in installments based on the progress of construction works,” Therefore, we came up with this scheme,” says Chhabi Raj Pokharel HIDCL CEO.

In the meantime, HIDCL has shortlisted 19 government-owned projects that need public investments including 725 MW Upper Arun, 450 MW Kimathanka Arun, 101 MW Tamakoshi-5 and 48 MW Bheri Babai Diversion Multipurpose projects.

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This is the biggest project in Nepal seconded by the 1,200 MW Budhi Gandaki project in Central Nepal and will majorly address the country’s electricity crisis.

The Mugu Karnali hydropower project is located on the Karnali river and spans the Mugu, Humla and Bajura districts.

Power Project Development
In a recent development concerning the project, the Department of Electricity Development (DoED) is preparing to award a survey license to government-owned Vidyut Utpadan Company as the latter approached the department for the same on April 15, 2018.

DoED is currently reviewing the documents and will forward the same to the Ministry of Energy, Water Resources and Irrigation (MoEWRI) for the final nod.

 “We have asked for a few additional documents from the probable developer, and once we get them, we will seek the ministry’s approval for the license,” says Nabin Raj Singh, Director General of DoED.

Post the Ministry’s approval, the company will conduct a stringent study of the large-sized project and should complete the survey in a span of two years.

MoEWRI is planning to give about 19 government projects to VUC. In the past, the government awarded the 410 MW Nalsing Gadh Hydropower (storage type) project to the company.

Also Read:-

• Nepal 2017 Highlights: Hydropower Potential Grows Three-fold with 16 New Projects
• Nepal’s Abundant Hydropower Potential to Be Tapped
• Abundant Hydropower Potential
• Bangladesh to Invest in Nepali Hydropower Projects
• Nepal For Clean Energy Solutions, Bets Big on Hydropower
• Investment Pouring in for Nepal’s Arun III Hydropower Project

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