Kathmandu, September 5th – The Power Purchase Agreement (PPA) for the Tiplyang Kaligandaki Hydropower Project, backed by the IME Group, has reached its finalization.
In a ceremony hosted at the Nepal Electricity Authority today, Mr. Kulman Ghising, Managing Director of the Nepal Electricity Authority, and Mr. Chandra Prasad Dhakal, President of Tiplyang Kaligandaki Hydropower Pvt. Ltd., officially inked the PPA.
The PPA encompasses a 58-megawatt capacity, as reported by the project’s management.
Furthermore, the promoter company has indicated that the remaining capacity’s PPA will soon be signed, as it has received preliminary approval from the Department of Electricity Development to enhance the project’s capacity to a total of 86 megawatts.
This ambitious venture is situated in the Annapurna and Raghuganga Rural Municipality of the Myagdi District.
The electricity generated by the Tiplyang Kaligandaki Hydropower Project will be integrated into the Dana substation within the Kaligandaki Corridor.
IME Group has already concluded a 66.3-megawatt capacity Power Purchase Agreement for the Upper Madhya Kaligandaki hydroelectric project.
Both projects are scheduled for completion by July 2029.
The total project cost is estimated at NPR 33 billion and 14 million. According to the company, private capital investment will be contributed by IME Group and other stakeholders, with financial arrangements overseen by Nabil Bank Limited.