Local capital to be mobilized to build 25-MW project in Myagdi

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    MYAGDI, April 26: Darbang Kalika Hydro Pvt Ltd is planning to mobilize local capital to build Darbang-Myagdi Khola Hydropower Project (25 MW).

    Binod Kunwar, president of Darbang Kalika Hydro Pvt Ltd, said that the company would request locals of Myagdi, including those residing in foreign countries, to invest in the project. “We will try to reach every family in the district and request them to invest in the project,” Kunwar said, adding that the project will help to uplift living standard of local people.

    Kunwar also said that the company would organize programs in different parts of the country to make local people aware of the benefits of investing in hydropower project. “The government’s campaign of encouraging local people to invest in hydropower projects has created an investment friendly environment in the country. Locals of Myagdi living in South Korea have already showed their commitment to invest in the project.”
    Though the company has already signed Power Purchase Agreement (PPA) with Nepal Electricity Authority (NEA), the project was not moving ahead due to disputes over development modality.

    As per the PPA, NEA will buy energy generated by the project at Rs 4.5 per unit during wet season and Rs 8.5 per unit during dry season.
    Many have described the project as a game changer for economic development in Myagdi district. According to officials of the company, access road to the project site has already been built.

    Amrit Gauchan, a director of the company, said that work to prepare detailed project report (DPR) of the project is underway.

    A five-kilometer tunnel will be built to the powerhouse located in Ratodhunga near Shasradhara from the dam site located in Devisthan – two kilometers above Darbang. The project is estimated to cost Rs 3.93 billion.

    Nepal Electricity Authority (NEA) is building Rahughat Hydropower Project (32 MW) in the district. Similarly, two private companies — Robert Energy Pvt Ltd and Ghalemdi Hydropower Pvt Ltd – are building Mistrikhola (42 MW) and Ghalemdi (5 MW) projects in the district.

    Source: My Republica