IBN approves Rs 36.37 billion investment for four hydropower projects

Kathmandu: The Investment Board Nepal (IBN) has approved investment of Rs 36.37 billion proposed for four hydropower projects.

The board through its 55th meeting granted this investment for the Rolwaling River, Chujung River, Dana River, and Saniveri hydropower ventures.

Convened at the IBN’s headquarters, the meeting decided to establish a high-level committee tasked with evaluating the progress achieved thus far in the implementation of the Tamor Reservoir Hydropower Project. This committee is slated to provide recommendations concerning the project's future trajectory.

Furthermore, the meeting has endorsed a study permit for Delma Himalayan Energy, facilitating a comprehensive assessment of solar energy projects encompassing 245 MW of solar capacity and a 20 MW battery capacity in the Rajpur rural municipality of Dang district. 

Additionally, the IBN has acknowledged the submission of a detailed feasibility study report by Risen Energy Ltd., the developer behind the 250 MW solar energy initiatives in Banke's Kohalpur and Banganga in Kapilvastu.

The IBN has made the decision to propose to the cabinet the execution of the directive issued by the Supreme Court concerning the Upper Karnali Hydropower Project.

Prime Minister Pushpa Kamal Dahal, acknowledging the meeting's pivotal decisions, emphasized the significance of enhancing future project cost assessments for hydropower projects to ensure their financial viability. He called for heightened coordination to ensure the timely completion of ongoing projects and urged expeditious procedures for investment approval and project implementation. Prime Minister Dahal further directed all relevant entities to focus on delivering outcome-driven outcomes.