New Delhi, Aug 19: NHPC Limited signed an MOU with Investment Board Nepal (IBN) to develop 750 MW West Seti and 450 MW SR-6 Hydroelectric Projects in Nepal. The MOU was signed and exchanged by A.K. Singh, CMD, NHPC and Sushil Bhatta, Chief Executive Officer, IBN on 18th August 2022 at Kathmandu, Nepal in the presence of Sher Bahadur Deuba, Prime Minister of Nepal. Cabinet Ministers from Govt. of Nepal and officials from Indian Embassy in Nepal were also present on the occasion.
Speaking on the occasion, Sher Bahadur Deuba, Rt. Prime Minister of Nepal appreciated the cooperation of India in Nepal’s development including in tapping the hydropower potential. He said that the agreement would serve as an important instrument in enhancing Nepal-India energy cooperation.
A.K. Singh, CMD, NHPC in his address expressed his gratitude to the Govt. of Nepal, Ministry of Power, Govt. of India, Ministry of External Affairs, Govt. of India and Indian Embassy in Nepal for reposing faith in NHPC for development of these Projects. Expressing NHPC’s commitment towards development of West Seti & SR-6 projects, he said that “It’s our history that once we enter a project, we complete it. The development of these projects will boost NHPC’s credentials as a global hydropower player.”
NHPC Limited, established in 1975 is a Schedule ‘A’ Enterprise of the Government of India with ‘MINI RATNA’ status. With total installed capacity of 7071.20 MW, NHPC is ranked as a premier organization in India for development of hydropower.
The Investment Board Nepal (IBN), established in 2011 is a high-level institution of Government of Nepal under the chairmanship of the Hon’ble Prime Minister tasked with attracting and facilitating private investments, including Foreign Direct Investment (FDI) and managing Public Private Partnership (PPP) in Nepal.