Tripartite Memorandum of Understanding signed to invest in Tamakoshi 5 Hydropower Project

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Kathmandu, 11 August 2078. A tripartite memorandum of understanding (MoU) has been signed for loan investment in the 99.8 MW Tamakoshi Fifth Hydropower Project to be constructed in Dolakha. The MoU was signed between Nepal Electricity Authority, project promoter Tamakoshi Hydropower Company and Employees Provident Fund in the presence of Minister for Energy, Water Resources and Irrigation Pampha Bhusal on Sunday. NEA Executive Director Hitendra Dev Shakya, Chief Executive Officer of the company Nasivaman Pradhan and Fund Administrator Tulasi Prasad Gautam have signed the MoU.

The fund will invest 70 percent (about Rs. 11.33 billion) in the project with an estimated cost of Rs. 16.19 billion (US १३ 137.2 million). The remaining amount of the project being constructed under the People’s Hydropower Program will be raised from equity by issuing shares to the general public.

Tamakoshi V is the fifth 456 MW Upper Tamakoshi Cascade Project. Therefore, the project is considered attractive as there is no need to build structures such as Tamakoshi Panchale Dam, sand thawing pond (descender).

The gate required to send the water from the Upper Tamakoshi power house to the project tunnel has been connected. The project will have to construct 8 km tunnel, power house, about 2 km 220 kV transmission line and other main structures.

The project, which has received detailed design and environmental impact assessment (EIA) approval, has already received permission to generate electricity in May, 2074 BS. Further environmental studies of the project have been carried out with the grant of the Asian Infrastructure Investment Bank (AIIB) established under the leadership of China. Pre-construction works of the project are underway now. Work has been moved forward with the aim of completing the construction of the project by 2084 BS.