New Delhi: State-owned SJVN Ltd on Thursday inked a project development agreement with Investment Board of Nepal to develop 669 MW Lower Arun Hydro Power project worth Rs 5,792 crore in Nepal.
The agreement was inked in the presence of Prime Minister Narendra Modi and Prime Minister of Nepal Pushpa Kamal Dahal, according to a statement.
“…a Project Development Agreement (PDA) of 669 MW Lower Arun Hydro Electric Project in Nepal has been signed,” it said.
The PDA was signed by Nand Lal Sharma, Chairman & Managing Director of SJVN, and Sushil Bhatta, CEO of Investment Board of Nepal, here on Thursday, it stated.
Sharma said SJVN is committed to make Lower Arun project a Model Hydro Project with complete execution, from concept to commissioning within 7 to 8 years.
“This is our second large-scale investment in Nepal after 900 MW Arun-3 HEP (Hydro Electric Project) which is in advance stage of construction. Now, our target is to start the construction of the project in current fiscal after obtaining investment approval from Government of India,” Sharma said.
According to him, the project shall be constructed in five years at a cost of Rs 5,792 crore with a levelised tariff of Rs 4.99 per unit. The project will be developed on BOOT (build own operate transfer) basis, and on completion, it will generate 2,901 million units of energy, annually.
The project is located in Sankhuwasabha and Bhojpur districts of Nepal.
SJVN won the project through International Competitive Bidding in February 2021.
SJVN is already operating India’s largest underground 1,500 MW Nathpa Jhakri Hydro Power Station in tandem with 412 MW Rampur Hydro Power Station in Himachal Pradesh.
Dear Reader,
Over the past four years, EastMojo revolutionised the coverage of Northeast India through our sharp, impactful, and unbiased coverage. And we are not saying this: you, our readers, say so about us. Thanks to you, we have become Northeast India’s largest, independent, multimedia digital news platform.
Now, we need your help to sustain what you started.
We are fiercely protective of our ‘independent’ status and would like to remain so: it helps us provide quality journalism free from biases and agendas. From travelling to the remotest regions to cover various issues to paying local reporters honest wages to encourage them, we spend our money on where it matters.
Now, we seek your support in remaining truly independent, unbiased, and objective. We want to show the world that it is possible to cover issues that matter to the people without asking for corporate and/or government support. We can do it without them; we cannot do it without you.
Support independent journalism, subscribe to EastMojo.
Thank you,
Karma Paljor
Editor-in-Chief, eastmojo.com
In addition, SJVN is developing a 217 kilometre-long associated transmission network for power evacuation and export to India.
Presently, SJVN is executing three hydro projects of 2,059 MW in Nepal. A 900 MW Arun-3 HEP is in advance stage of construction and 490 MW, Arun-4 HEP will be developed in joint venture mode by SJVN and Nepal Electricity Authority.
SJVN is targeting for 5,000 MW projects in Nepal by 2030.
Also Read | NFR collects Rs 62.98 cr from ticketless travellers in 2022-23
Trending Stories
- Arunachal Congress slams China over treatment of Wushu players
- Mizoram: Former ZPM members speak out, allege deception
- I’ve just been diagnosed with cancer, now what?
- Centre to provide in-kind aid to Manipur IDPs in Mizoram
- Man survives bear attack in Mizoram
- Refusal of visa to Arunachal athletes against Olympic charter: Anurag Thakur
