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