IBN approves investment for four hydropower projects

KATHMANDU: The Investment Board Nepal (IBN) has approved an investment equivalent to Rs 36.37 billion for the development of four hydropower projects.

A meeting of IBN chaired by Board Chair and Prime Minister Pushpa Kamal Dahal ‘Prachanda’ today endorsed the investment for the Rolwaling Khola, Chhujung Khola, Dana Khola and Sanibheri hydropower projects.

The meeting reviewed the developments so far regarding moving ahead 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 in 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 Kapilvastu.

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 Dahal 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.