Ministry Scraps Licenses of Three Projects Financed by Indian Companies

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.

Editors Recommendations

• Upper Tamakoshi Hydropower Project to Miss its Deadline of This July
• PM Oli wants to Revive Budhigandaki Hydropower Project
• Local Government to Issue Licenses for Hydropower Projects