Kathmandu, Oct 9: The Investment Board has decided to approve investment in two semi-reservoir hydropower projects.
The 68th meeting of the Investment Board chaired by Prime Minister Balendra Shah on Friday decided to endorse the investment in the Narkhola Semi-Reservoir Hydropower Project (58.9 MW) with the cost of Rs 10.75 billion and the Sani Bheri-3 Semi-Reservoir Hydropower Project (46.72 MW) with the cost of Rs 10.42 billion.
Commercial power production from the Arun-3 Hydropower Project (900 MW) will be ensured by February 2028. Construction of the Upper Karnali Hydropower Project (900 MW) will be forwarded immediately in line with the project development agreement.
Chief executive officer at the Office of the Investment Board would be delegated power for the enforcement of approved projects and facilitation of services provided to investors and effective performance.
The Swiss Challenge method would be adopted by the Board as per need, thereby prioritizing the development of projects which contribute to the utilization of renewable energy in Nepal.
Finance Minister and vice chairman of the Board Dr Swarnim Wagle; Minister for Energy, Water Resources and Irrigation Biraj Bhakta Shrestha; Minister for Agriculture, Forest and Environment Geeta Chaudhary; Minister for Industry, Commerce and Supplies, Deepak Kumar Sah; vice chairman of the National Planning Commission, Dr Gunakar Bhatta; chief secretary Govinda Bahadur Karki; governor of Nepal Rastra Bank Dr Bishwanath Poudel; chief executive officer of the Investment Board Yangki Ukyab; board members and high-ranking officials were present in the meeting.
