NHPC inks pact to develop two hydro projects in Nepal

State-owned hydro power giant NHPC on Friday announced its plan to develop two hydroelectric projects of 750MW and 450MW in Nepal, for which it has inked a pact on Thursday in Kathmandu. "NHPC Ltd signed an MOU with Investment Board Nepal (IBN) to develop 750 MW West Seti and 450 MW SR-6 Hydroelectric Projects in Nepal," a company statement said.

According to the statement, the MOU (Memorandum Of Understanding) was signed and exchanged by A K Singh, CMD, NHPC, and Sushil Bhatta, Chief Executive Officer, IBN, on August 18, 2022 in Kathmandu, Nepal in the presence of Sher Bahadur Deuba, Prime Minister of Nepal.

Speaking on the occasion, Deuba has appreciated the cooperation of India in Nepal's development, including in tapping the hydropower potential.

He said that the agreement would serve as an important instrument in enhancing Nepal-India energy cooperation.

Expressing NHPC's commitment towards development of West Seti & SR-6 projects, CMD of NHPC A K Singh said: "It is our history that once we enter a project, we complete it. The development of these projects will boost NHPC's credentials as a global hydropower player."

The NHPC Limited, established in 1975, is a Schedule A enterprise of the government of India with MINI RATNA status.

With total installed capacity of 7,071.20 MW, NHPC is ranked as a premier organisation in India for development of hydropower.

The Investment Board Nepal (IBN), established in 2011, is an institution of the government of Nepal under the chairmanship of Prime Minister Deuba tasked with attracting and facilitating private investments, including Foreign Direct Investment (FDI), and managing Public Private Partnership (PPP) in Nepal.