: India, Nepal sign deal to build 695-megawatt hydroelectric power plant #IndiaNEWS India and Nepal on Monday agreed to build a 695-megawatt hydroelectric power plant in the Himalayan country, Reuters

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India, Nepal sign deal to build 695-megawatt hydroelectric power plant #IndiaNEWS
India and Nepal on Monday agreed to build a 695-megawatt hydroelectric power plant in the Himalayan country, Reuters reported, citing officials. This will allow Nepal to tap into its abundant supply of clean energy to ease power shortages, according to the news agency.India is investing billions of dollars in the electricity trading deal with Nepal. The project named Arun IV is being jointly built on the Arun River in Nepal’s east region by state-owned Nepal Electricity Authority and India’s Satluj Jal Vidyut Nigam Limited. While Nepal owns 51% of the equity, India holds 49%.“Nepal will get 152 megawatts of free electricity from the plant for its consumption and the rest will be split between the two on the 51% and 49% basis,� Nepal Electricity Authority spokesperson Suresh Bahadur Bhattarai told Reuters. “Cost of the project is being worked out and whatever it comes will be shared as per the above ratio.�The Memorandum of Understanding was signed between Satluj Jal Vidyut Nigam chairperson Nand Lal Sharma and Nepal Electricity Authority Managing Director Kulman Ghising, PTI reported.Satluj Jal Vidyut Nigam has three projects with a total capacity of 2,059 megawatts in Nepal. By 2030, the public sector undertaking is targeting to have 5,000-megawatt projects in the Himalayan country,...Read more

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