We are assuring market for power export: Kulman Ghishing

Kathmandu / May 22: Nepal Electricity Authority (NEA)’s Managing Director Kulman Ghising has said the market for power export is getting assured.

Speaking at a program to sign an agreement with Employees Provident Fund (EPF) for investing in Tamakoshi Fifth Hydropower Project, Ghising said, “India and Bangladesh are eager to purchase power from Nepal.”

According to Ghising, power export from Nepal to these countries during the rainy season will get a better rate.

The EPF has already invested in hydropower projects like Upper Tamakoshi, Sanjen, Rasuwagadhi and Madhya Bhotekoshi.

The EPF is to invest Rs 13.74 billion solely in the 99.8 megawatt- Tamakoshi Fifth to be based in Bigu Rural Municipality in Dolakha. The total cost of the project including the interests of construction period is Rs 21.14 billion.

The remaining amount for the project that has been included in the People’s Hydropower Program will be raised and managed by an equity fund through the sale of shares to the public. The project’s financial management includes 65 percent loan and 35 percent equity fund.

The tripartite agreement among the NEA, projects promoter Tamakoshi Hydropower Company and EPF was signed in the presence of Minister for Energy, Water Resources and Irrigation, Shakti Basnet, on Sunday.

NEA Managing Director Ghishing, EPF Administrator Jitendra Dhital and Company Chief Executive Officer Binod Bhandari signed the agreement paper on behalf of their respective organizations.

On the occasion, the Minister said the government has prioritized hydropower production, and strengthening of transmission systems. He took time to say that Nepal had the potentiality for green energy and it was also its need. He stressed the need for completing the project on time. RSS