The Investment Board Nepal has given the green light to investments totaling Rs. 99.18 billion for four crucial energy projects in nepal, marking a significant milestone in the nation’s energy infrastructure advancement. Led by Prime Minister Pushpa Kamal Dahal, the IBN board meeting held on Thursday endorsed these investments, underscoring Nepal’s commitment to strengthening its energy sector.
The sanctioned investments comprise Rs. 34.59 billion for the 166 MegaWatt Super Tamor Hydroelectric Project in Taplejung, Rs. 10.08 billion for the 42MW Upper Modi-A Hydroelectric Project in Kaski, Rs. 21.10 billion for a sizable 250MW Solar Energy Project covering Kohalpur and Banganga, and Rs. 33.41 billion for the 139.2MW Lower Manang Marsyangdi Hydroelectric Project. Notably, the Solar Energy Project and the Lower Manang Marsyangdi initiative will receive financing from foreign investors, showcasing international interest in Nepal’s energy potential.
Moreover, the meeting established a task force, headed by a joint secretary of the IBN, to evaluate additional investment prospects in HuaXin Cement Narayani Pvt Ltd within a specified timeframe. Additionally, a committee led by IBN Chief Executive Officer Sushil Bhatta was tasked with holding discussions with developers overseeing the 327MW Upper Marsyangdi-2 Hydroelectric Project and the 250MW Solar Energy Project in Kohalpur and Banganga, with the objective of finalizing project development agreements.
The meeting’s directives also included submitting a report on land acquisition issues concerning the Chhyangkuti to Diding access road of the 900MW Arun III hydro project to the Cabinet for consideration. Furthermore, approvals were granted for the repatriation of funds invested by foreign stakeholders in the Dang Cement Project.
