Jakarta:The Investment Board has approved investment in two semi-reservoir hydropower projects following its 68th meeting chaired by Prime Minister Balendra Shah. The projects are the Narkhola Semi-Reservoir Hydropower Project with a capacity of 58.9 MW, costing Rs 10.75 billion, and the Sani Bheri-3 Semi-Reservoir Hydropower Project with a capacity of 46.72 MW, costing Rs 10.42 billion.
According to National News Agency Nepal, the board decided that commercial power production from the Arun-3 Hydropower Project, with a capacity of 900 MW, will be achieved by February 2028. Additionally, the construction of the Upper Karnali Hydropower Project, also with a capacity of 900 MW, will proceed immediately, aligning with the project development agreement.
The chief executive officer at the Office of the Investment Board will be delegated the authority to enforce the approved projects and facilitate services provided to investors for effective performance. The Board will also adopt the Swiss Challenge method as needed, focusing on developing projects that enhance the utilization of renewable energy in Nepal.
Present at the meeting were 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; and other board members and high-ranking officials.