June 24, 2024, Monday
Nepal 1:37:26 pm

Market for power export getting assured: NEA MD Ghising

The Nepal Weekly
May 23, 2023
NEA MD Kulman Ghising

Nepal Electricity Authority (NEA) managing director Kulman Ghising has claimed that the market for power export is getting assured. Speaking at a programme to sign an agreement with the Employees Provident Fund (EPF) for investing in Tamakoshi Fifth Hydropower Project, Ghising said, “India and Bangladesh are eager to purchase power from Nepal.” 

Power export from Nepal to these countries during a rainy season will get a better rate, according to Ghising. The EPF has already invested in hydropower Projects like Upper Tamakoshi, Sanjen, Rasuwagadhi and Madhya Bhotekoshi. The EPF is set to invest Rs 13.74 billion solely in the 99.8 MW Tamakoshi – V to be based in Bigu Rural Municipality in Dolakha. The total cost of the project including the interests of the construction period is Rs 21.14 billion. The remaining amount for the project that has been included in the People’s Hydropower Programme will be raised and managed by an equity fund through the sale of shares to the general public. The project’s financial management is 65 per cent loan and 35 per cent equity fund. The tri-party agreement among the NEA projects promoter Tamakoshi Hydropower Company and EPF was signed in the presence of Minister for Energy, Water Resources and Irrigation, Shakti Basnet, on Sunday.    

NEA’s MD Ghishing, EPF administrator Jitendra Dhital and Company Chief Executive Officer Binod Bhandari inked the agreement paper on behalf of their respective offices. On the occasion, the Minister said the government prioritised hydropower production and strengthening of transmission systems. Nepal had potential for green energy and it was also its need, he said and underscored the need of completing the project on time.