Kathmandu, Aug. 23: The
Nepal Electricity Authority (NEA) and Trishuli Hydropower Company Tuesday
signed the Power Purchase Agreement (PPA) for the Upper Trishuli-3B Hydropower
Project.
The 37MW project is being
developed with the joint investment of the NEA and Nepal Telecom.
NEA Managing Director
Kulman Ghishing and Project chief of Trishuli Jal Vidhyut Company Limited Mohan
Prasad Gautam signed the PPA on behalf of their respective organisations.
As per the agreement, the
NEA will buy 134.88 gigawatt hours (GWh) from the company in the dry season
(December to May) and 157.71 GWh in the wet season (June to October).
The PPA rate is Rs. 4.80
during the wet season and Rs. 8.40 during the dry season.
Gautam said that the
construction of the project would begin from January next year.
“We are selecting the
contractors for the construction of the project. As per our estimates, the
construction work will be completed in three years,” he said.
According to him, the
company has signed the primary agreement for the financial closure.
A consortium of Nabil
Bank, Hydropower Investment and Development Company Limited, Citizen Investment
Trust and Nepal Bank has agreed to finance the project.
NEA and Nepal Telecom will
have 30-30 per cent shares in the project.
Likewise, municipalities
and rural municipalities of Rasuwa and Nuwakot districts will have 5 per cent
share, local financial institutions 5 per cent, common people 15 per cent, and
employees of NEA and Telecom will have 5 per cent shares in the project.
The Upper Trishuli 3B is a
cascade-type project of the Upper Trishuli 3A Hydropower Project which is being
developed by the NEA.
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