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Ministry Scraps Licenses of Three Projects Financed by Indian Companies

Lower Seti Hydro

Nepal’s Energy Ministry has scrapped licenses of three power developers financed by Indian companies, reports Online Khabar.

The Details:

  • The projects that have been affected are 130 MW Budhi Gandaki ‘A’ and 260 MW Budhi Gandaki ‘B’ and 350 MW Dudhkoshi.
  • The Budhi Gandaki projects were to be developed by Naulo Nepal Hydro Electric Pvt Ltd, a company backed by Indian financing while the Dudhkoshi project was given to KBR India Infra Pvt Ltd.
  • The ministry has given them letters on August 21 to present their financial closure reports and draft Power Purchase Agreements (PPA) at the earliest.
  • But the companies could not present important documents such as the proof of registration of a company, projects’ financial closure report and a draft of the power purchase agreement.
  • Naulo Nepal received its license in 2008 and KVR Infra in 2010.

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