IBN Approves Four Hydropower Projects

IBN Approves Four Hydropower Projects

Aug. 26, 2023, 8:41 a.m.

A meeting of the Investment Board Nepal (IBN) has decided to approve an investment of Rs. 36.37 billion for the four Hydropower projects.

According to IBN, the 55th meeting of IBN which was held under the chairmanship of the Prime Minister and Chairperson of IBN Pushpa Kamal Dahal "Prachanda" on Friday decided to approve the investment for Rolwaling Khola, Chhujung Khola, Dana Khola and Sanibheri Hydropower Projects.

According to RSS the meeting reviewed the developments so far regarding moving ahead with 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 into notice the comprehensive feasibility study report presented by the Ricen Energy Company Limited which was commissioned to carry out a study on the development of 250 megawatts capacity solar energy development project at Kohalpur of Banke and at Banganga of Kapilbastu.

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.

More, 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 Prachanda 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.

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