Hydro Village inks PPA with NEA

Hydro Village Private Limited (HVPL) signed a Power Purchase Agreement (PPA) with Nepal Elec­tricity Authority (NEA) amid a func­tion in the capital on Sept 26.

According to a press release issued by HVPL, Managing Director of NEA Kul Man Ghising and Chairman of HVPL Capt. Rameshwar Thapa signed the agreement for the 57.3 MW Myagdi Khola Hydro Power Proj­ect in Myagdi district.

The project’s estimated cost is Rs 10 billion and required commer­cial operation date is September, 2023. “We are determined to com­plete the project on time even in an unfavorable situation,” Thapa said in a statement.

Managing Director of HVPL Sushil Pokharel said that 30 percent invest­ment will be managed by the com­pany from foreign direct investment as well as local investment and the remaining 70 percent will be bor­rowed from banks. “We will be build­ing access road of 24 km to project site on the first stage and the con­struction will then start,” he added.

The project will have annual aver­age production of 335.99 GWh (dry season, 103.11 GWh; and wet season, 232.88 GWh). Per unit rate of elec­tricity has been fixed at Rs 4.80 and Rs 8.40 for the wet season and dry season, respectively.

Source: The Annapurna Express