Urja Khabar
Kathmandu: The Investment Board Nepal (IBN) has approved investments totaling Rs 21.17 billion for two semi-reservoir hydropower projects with a combined capacity of 105.62 megawatts.
The 68th meeting of the IBN, chaired by Prime Minister Balendra Shah, approved Rs 10.75 billion for the 58.9 MW Nar Khola Semi-reservoir Hydropower Project and Rs 10.42 billion for the 46.72 MW Sani Bheri-3 Semi-reservoir Hydropower Project.
The meeting also decided to facilitate the necessary measures to bring the 900 MW Arun-3 Hydropower Project into commercial operation by February 2028.
Similarly, the board agreed to facilitate the immediate advancement of the 900 MW Upper Karnali Hydropower Project, which has been in the development process for an extended period, in accordance with the provisions of its Project Development Agreement (PDA).
To expedite the implementation of approved projects and facilitate investment, the meeting delegated the necessary authority to the IBN’s Chief Executive Officer to provide services and support to investors.
The board also directed the concerned offices to establish a legal framework allowing unsolicited project proposals to be advanced through a competitive process using the Swiss Challenge method, where appropriate. The mechanism is intended to promote competition and strengthen private sector participation in infrastructure development.
In addition, the meeting discussed prioritizing investment proposals for infrastructure projects that leverage advanced information technology, including artificial intelligence (AI).
According to the IBN, priority will be given to projects based on their potential contributions to renewable energy utilization, employment generation and Nepal’s overall economic development.
The meeting was attended by Finance Minister and Board Vice-Chair Dr. Swarnim Wagle; Minister for Energy, Water Resources and Irrigation Biraj Bhakta Shrestha; Minister for Agriculture, Forest and Environment Gita Chaudhary; Minister for Industry, Commerce and Supplies Deepak Kumar Sah; National Planning Commission Vice-Chair Dr. Gunakar Bhatta; Chief Secretary of the Government of Nepal Govinda Bahadur Karki; Nepal Rastra Bank Governor Dr. Bishwanath Paudel; and Investment Board CEO Yangki Ukyab, along with other Board members and high-ranking officials.
