Kathmandu: The 68th meeting of the Investment Board Nepal, chaired by Prime Minister Balendra Shah, has decided to approve investments of more than Rs 21.17 billion in two peaking run-of-river hydropower projects with a combined capacity of 105.62 MW.
The meeting approved an investment of Rs 10.750497 billion for the 58.9 MW Nar Khola Peaking Run-of-River Hydropower Project and Rs 10.423362 billion for the 46.72 MW Sani Bheri-3 Peaking Run-of-River Hydropower Project.
The total approved investment for the two projects amounts to Rs 21.173859 billion. Once operational, both projects are expected to contribute additional energy to Nepal’s national electricity system.
The meeting also made decisions to advance the construction and commercial operation of major hydropower projects. It decided that the 900 MW Arun-3 Hydropower Project would begin commercial power generation by February 2028.
Similarly, the meeting decided to facilitate the immediate commencement of construction of the 900 MW Upper Karnali Hydropower Project in accordance with the provisions of its Project Development Agreement.
The meeting also decided to delegate the necessary authority to the Chief Executive Officer of the Investment Board Nepal Office to facilitate the implementation of approved projects and services provided to investors. This is expected to improve project implementation and expedite services for investors.
The Board further decided to direct its office to establish the necessary legal provisions to advance proposals that were not solicited by the Board through competitive Swiss Challenge procedures, as appropriate.
Likewise, the meeting decided to prioritize investment proposals for infrastructure projects based on emerging information technologies, including artificial intelligence (AI). The Board stated that such projects would be prioritized in view of their potential contributions to the utilization of Nepal’s renewable energy, job creation, and economic development.
The meeting was attended by Finance Minister and Board Vice-Chair Dr. Swarnim Wagle; Minister for Energy, Water Resources and Irrigation Birajbhakta Shrestha; Minister for Agriculture, Forests and Environment Geeta Chaudhary; Minister for Industry, Commerce and Supplies Deepak Kumar Sah; National Planning Commission Vice-Chairman Dr. Gunakar Bhatta; Chief Secretary Govinda Bahadur Karki; Nepal Rastra Bank Governor Dr. Bishwanath Poudel; Investment Board Nepal Chief Executive Officer Yanki Ukyab; and other Board members and senior officials.
Nepalpurbadhar