IPPAN to ink agreements during Power Summit


November 19, 2019

Kathmandu: Independent Power Producers’ Association – Nepal (IPPAN) has said it will sign eight agreements with foreign firms and lender companies related to the hydropower sector during a Power Summit scheduled to be held in Kathmandu from November 21 to 22.

As per IPPAN, National Hydroelectric Power Corporation, India and Hydroelectricity Investment and Development Company Ltd, Nepal will ink a hydropower development agreement. Similarly, an agreement between Nepal Power Exchange Ltd and Indian Power Exchange Ltd and Power Cell Bangladesh will also be signed. Moreover, Women in Power Forum and International Finance Corporation, Nepal Bankers’ Association, IPPAN and Netherlands Development Finance Company (FMO), Investment Board Nepal and Power China will sign a pact to build Tamor Reservoir Project.

Similarly, GMR Group, India and Bangladesh will ink power trade agreement of Upper Karnali Hydropower Project. Shailendra Guragain, president of IPPAN, informed that some of the agreements are in negotiation phase and will be made public during the summit. “We have completed the preparations for the summit, which is expected to create a platform for regional cooperation for power trade through various discussion sessions,” he said, adding that the summit will explore new markets as well as expansion of power trade within and beyond the border.


Source: The Himalayan Times