On Friday, Nepal’s Prime Minister KP Sharma Oli chaired the 44th meeting of the board in which he decided to grant a survey license to RIsen Energy Singapore JV PTE to build the Biggest Solar Power Plant in Nepal. Therefore, the Government of Nepal has successfully signed a Memorandum of Understanding (MoU) with the Singapore based company as well as with the Investment Board. Chief Executive Officer of Investment Board and Development Manager for South Asia of Singapore JV PTE, Wang Xiang signed the MoU.
The whole Solar Power Project worths 250 Megawatt (MW) of clean energy making it the Biggest Solar Power Plant in Nepal. The development and operation will undergo with the public-private-partnership model. However, the whole project includes two separate 125 MW solar power projects in two different locations; Banke and Kapilvastu which both fall under Lumbini Provenance of Nepal.
Furthermore, the project also includes the installation of a 20 MW capacity storage power plant each at Kohalpur in Banke as well as Banganga in Kapilvastu whilst making the whole project Nepal’s largest solar farm to date.
Singapore JV PTE now will have to prepare a detailed project report (DPR) as well as submit it to the office of the Investment Board in 12 months of time span. The project is also estimated to cost USD. 189.5 million. Ramesh Adhikari, Investment Board’s Under-Secretary and Spokesperson shared this information with the media.
Image Source: New Business Age
Along with the underway of the Biggest Solar Power Plantl Project, Nepal Investment Board has approved six more projects inside the country. This makes seven total projects and is estimated to worth Rs. 185.43 billion.
The six other projects alongside Biggest Solar Power Plant in Nepal Project are:
1. 327 MW Upper Marshyangdi-2 Hydropower Project in Lamjung and Manang
2. 42.9 MW Ankhukhola Hydropower Project in Dhading
3. 57.3 MW Myagdi Khola Hydropower Project in Myagdi
4. 97.2 MW Isuwa Khola Hydropower Project in Snakhuwasabha
5. 164 MW Kaligandaki Gorge Hydropower Project in Mustang and Myagdi
6. Development of Dang Cement Industries as well as of Samrat Cement Industries in Dang
327 MW Upper Marshyangdi-2 Hydropower Project in Lamjung and Manag has been estimated to cost Rs. 78.65 billion. Similarly, the 42.9 MW Ankhukhola Hydropower Project in Dhading is estimated to cost Rs. 6.30 billion whereas the 57.3 MW Myagdi Khola Hydropower Project in Myagdi is estimated to cost Rs. 10.31 billion.
Likewise, the 97.2 MW Isuwa Khola Hydropower Project in Snakhuwasabha is estimated to cost Rs. 13.57 billion, and 164 MW Kaligandaki Gorge Hydropower Project in Mustang and Myagdi is estimated to cost Rs. 28.06 billion. Last but not least, Rs. 32.50 billion is the estimated cost of Development of Dang Cement Industries so is Rs. 15.05 billion for Samrat Cement Industries in Dang. However, both projects are based in the Dang district.
Source: The Kathmandu Post