Kathmandu, October 23
The Ministry of Energy, Water Resources and Irrigation has issued a license to a Nepal Electricity Authority-owned company to survey the 1,069 MW Upper Arun hydropower project.
This comes seven years after the government decided to develop the peaking run-of-the-river project mobilising its own resources. With the decision, Upper Arun Hydropower Electric Ltd will now survey the project, whose detailed study is being undertaken with a concessional loan from the World Bank. The government has already said that the members of the public will also be allowed to invest in the mega project.
NEA Managing Director Kulman Ghising said that the project will receive utmost priority and it will be developed as a ‘game-changer’ in the field of energy. According to Ghising, the project shall be the biggest-ever undertaking of the NEA. The European Investment Bank and World Bank, along with the Employee’s Provident Fund and the Citizen Investment Trust, have also agreed to provide financing for the project.
The NEA plans to complete the project in seven years.
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