Ajit Karn
Today in New Delhi, India and Nepal signed a Memorandum of Understanding (MoU) for the development of the 480MW Phukot Karnali Hydro-Electric Project in Nepal.
In the presence of Indian Prime Minister Narendra Modi and Nepalese Prime Minister Pushpa Kamal Dahal ‘Prachanda’, the MOU was signed at Hyderabad House in New Delhi.
“NHPC Limited (A Govt. of India Enterprise) and Vidhyut Utpadan Company Limited (VUCL), Nepal signed an MoU (Memorandum of Understanding) today in New Delhi for the development of the Phukot Karnali Hydro Electric Project (480MW) in Nepal,” according to an official statement from the Ministry of Power.
RK Vishnoi, CMD, NHPC and Surya Prasad Rijal, MD, VUCL, Nepal exchanging MOU documents for the development of the Phukot Karnali Hydro Electric Project in the national capital in the presence of PM Narendra Modi and his Nepalese counterpart Pushpa Kamal Dahal ‘Prachanda’.
“NHPC Limited, a Schedule ‘A’ Enterprise of the Government of India with ‘MINI RATNA’ status, is a premier PSU in India for the development of hydropower, and Vidhyut Utpadan Company Limited (VUCL), Nepal is responsible to develop, build, own, and operate large-scale hydropower projects in a public-private partnership model in Nepal,” read the official release.
The MOU was signed by RK Vishnoi, Chairman and Managing Director of NHPC, and Surya Prasad Rijal, Managing Director of VUCL. The signature of this MOU marks a turning point in the India-Nepal Joint Vision for Cooperation in the Power Sector.
The initiative will utilize the flow of the Karnali River to generate electricity, which will then be fed into Nepal’s integrated power grid.
The facility will have an installed capacity of 480 MW and an average annual generation of approximately 2,448 GWh.
The main features of the project are a 109-meter-tall RCC dam and an underground powerhouse that will house six 79-MW turbines. Additionally, in order to minimize environmental impact, a Surface Power House with a 6 MW capacity, comprised of two 3 MW engines, is planned.
Earlier today, during a special press briefing on the visit of Nepalese Prime Minister Pushpa Kamal Dahal ‘Prachanda’ to India, Foreign Secretary Vinay Kwatra stated, “The two leaders engaged in fairly comprehensive, constructive, and future-oriented discussions aimed at advancing the India-Nepal bilateral relationship in a constructive, progressive, and mutually beneficial manner for both our societies.”
Regarding the signature of MoUs and other agreements, Kwatra stated that NHPC India had signed an MoU for the development of the 480-megawatt Phukot Karnali hydroelectric project in western Nepal.
“NHPC India has signed a Memorandum of Understanding for the development of the 480 MW Phukot Karnali hydropower project in Western Nepal. The two Prime Ministers also welcomed the signature of the project development agreement for the 679 megawatt Lower Arun Project by India’s Satluj Jal Vidyut Nigam (SJVN), the Foreign Secretary said in a statement to the media following bilateral talks between India and Nepal.
In April of this year, the 53rd meeting of the Investment Board, presided over by Nepal’s Prime Minister Pushpa Kamal Dahal, approved an investment proposal from SJVN worth 92.68 billion Nepali Rupees.
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The Foreign Secretary added that during the meeting, both Prime Ministers committed to accomplishing measurable and time-bound progress on the Pancheshwar Multipurpose Project.
