Nepal Electricity Authority has announced to build the largest hydroelectric plant to improve energy shortage in Nepal.
Nepal has announced to build Ink Mega Hydropower with the help of Chinese company “China Gezhouba Group Corporation”.
Nepal is suffering from large energy shortage from last a few years after Mahakali river and Koshi river been sold. These rivers were capable of producing highest hydropower which is now using by India. Still, Nepal has a vast network of rivers originating from the Himalayas has a potential to generate 4300 MegaWatts of hydropower but due to political instability and lack of investment, they are led to managing the output of 900 MegaWatt which is below the demand. But now China has stood for Nepal energy shortage to build 1200 MegaWatt hydropower.
It has signed an agreement with the Chinese company to build the largest hydropower in the country to overcome the shortage of the electricity.
Nepal Energy Minister Janardan Sharma signed the agreement for the China Gezhouba Group Corporation to build the long-mooted 1200 MegaWatt Budhi-Gandaki hydroelectric project. The project can provide electric energy to the entire country solving the electric energy shortage.
The Mega Hydropower agreement was signed on Sunday at the prime Minister residence in the presence of outgoing Prime Minister of Nepal Pushpa Kamal Dahal “Prachanda” and chinese Ambassador to Nepal Yu Hong.
The project is estimated $2.5 billion cost but it can exceed the budget as it is the largest hydropower project in Nepal ever assigned. The financial bill has not been signed yet but Ministry spokesman Dinesh Kumar Ghimire said, ” The financial agreement will be signed later.”
“The company will review the DPR (Detailed Project Report) within this year. Then the government will sign another agreement to start the project work”, Ghimire told Anadolu Agency.
Experts say Nepal has The Capacity to generate 83,000 MegaWatt but its total installed generation capacity currently stands at less than 2% of that.
India and China have vied for influence in the small country with both pumping money into Nepal through large-scale infrastructure projects. This project is also governing by the China to help the landlocked country out of the energy shortage.
Let’s see that the project get success to overcome the shortage of energy in Nepal which is having the opportunity to glow all over the world.