Investment Board Nepal Approves Rs. 99.18 Billion for Four Energy Projects, Solar and Hydro Initiatives
Investment Board Nepal has approved investments totaling Rs. 99.18 billion for four pivotal energy projects, marking a significant milestone in the country's energy infrastructure development. Chaired by Prime Minister Pushpa Kamal Dahal, the IBN board meeting held on Thursday sanctioned these investments, reflecting Nepal's commitment to bolstering its energy sector.
The approved investments include Rs34.59 billion for the 166-megawatt Super Tamor Hydroelectric Project in Taplejung, Rs10.08 billion for the 42MW Upper Modi-A Hydroelectric Project in Kaski, Rs21.10 billion for a substantial 250MW solar energy project spanning Kohalpur and Banganga, and Rs33.41 billion for the 139.2MW Lower Manang Marsyangdi Hydroelectric Project. Notably, the solar energy project and the Lower Manang Marsyangdi initiative will benefit from funding by foreign investors, highlighting the international interest in Nepal's energy potential.
Furthermore, the meeting established a task force, led by a joint secretary of the IBN, to assess additional investment opportunities in HuaXin Cement Narayani Pvt Ltd within a designated timeframe. Additionally, a committee headed by IBN Chief Executive Officer Sushil Bhatta was mandated to engage in discussions with developers overseeing the 327MW Upper Marsyangdi-2 Hydroelectric Project and the 250MW solar energy project in Kohalpur and Banganga, with the aim of finalizing project development agreements.
The meeting's directives also encompassed forwarding a report on land acquisition issues related to the Chhyangkuti to Diding access road of the 900MW Arun III hydro project to the Cabinet for deliberation. Furthermore, permissions were granted for the repatriation of funds invested by foreign stakeholders in the Dang Cement Project.
