Investment Board approves over Rs 35 billion for four hydropower projects (With video)

KATHMANDU: The Investment Board has approved investment of over Rs 35 billion for four hydropower projects.

A 55th meeting of the Board chaired by Prime Minister Pushpa Kamal Dahal on Friday morning  approved Rs 7.92 billion for the 22 MW Rolwaling Khola Hydropower Project, Rs 9. 68 billion for 63 MW Chujung Khola Hydropower Project, Rs 9. 68 billion for the 49.95 MW Danakhola Hydropower Project and Rs 9. 46 billion for the Sanibheri Hydropower Project.

Chief Administrative Officer Sushil Bhatta said that the meeting approved a proposal relating to providing permission to carry out solar energy study of 245 MW and 20 MW capacity in Dang Rajpur Rural Municipality.

The meeting reviewed the developments so far regarding moving ahead the implementation of the Tamor reservoir-based hydropower project and decided to constitute a high-level committee to give suggestions regarding the project’s future course of action.

The meeting also decided to give a study license to Dolma Himalayan Energy for conducting a study on the solar project of 245 megawatts capacity and 20 megawatts capacity battery power project at Rajpur rural municipality of Dang.

The Board has taken in notice the comprehensive feasibility study report presented by the Ricen Energy Company Limited which was commissioned for carrying out a study on development of 250 megawatts capacity solar energy development project at Kohalpur of Banke and at Banganga of Kapilvastu.

IBN has made a decision to present a proposal before the Council of Ministers for the implementation of the directive order issued by the Supreme Court regarding the Upper Karnali Hydropower Project.

Moreover, the Board has approved the draft of the Memorandum of Understanding to be signed with a company based in Malaysia for carrying out a study on setting up a chemical fertilizer industry.

On the occasion, Prime Minister Dahal directed all the bodies concerned to carry out more study and analysis so that the determination of cost for hydroelectricity projects is ‘bankable’ in the coming days, to deepen the required coordination for timely completion of the projects under construction, and to carry out result-oriented works by shortening the processes related to investment approval and project implementation.