FDI in 170-megawatt solar plant approved

Kathmandu, July 20: Investment Board Nepal (IBN) has approved a foreign direct investment proposal of Dolma Fund Management, a Mauritius-based company, to set up a 170 MW solar plant in Nepal.

The decision means the company can now begin works on investment plan and also conduct detailed study for the project estimated to cost US$ 200 million, according to Uttam Bhakta Wagle, the information officer for IBN.

IBN officials say that it will probably be the largest solar power plant in the country.

Nepal Electricity Authority has recently started installation of a 25 MW solar plant. The government has announced a plan to install solar plants having combined capacity of 300 MW as part of energy mix concept. The Republica