Upper
Hugdi hydropower will start generating power from next year, according to the
promoters.
Promoted
By Ru Ru Hydropower Project, the five megawatt (MW) project is estimated to
cost Rs 750 million. "However, the cost will escalate to Rs 815 million,
after adding the banks' interest," informed executive chairman of Sahas
Hydropower Company Him Prasad Pathak.
Sahas
Hydropower has bought 85 per cent share of Ru Ru Hydropower and currently
constructing Gulmi district-based Upper Hugdi hydel project, he said, adding
that Sahas Hydropower that has 856 shareholders is also planning to construct
11.8-km long transmission lines to connect the power station to the national
grid. "The company has completed the survey for the transmission line and
soon start construction."
Sahas
Hydropower that has an authorised and issued capital of Rs 500 million has already
done Power Purchasing Agreement at Rs 8.20 for dry season and Rs 4.80 for wet season with Nepal Electricity Authority
(NEA).
Though
the country is reeling under scheduled power outage, Nepal has huge potential
for hydropower development that can not only support the industrial growth but
also generate employment.
Though
there is a demand of 1,100 MW of electricity currently, the supply stands at
around 716 MW only, forcing the industries to operate half of their capacity
and making the lives of the people harder.
Lack
of awareness among the locals, effective policy, confidence in collective
investment, adequate transmission lines to connect to national grid, lengthy
paper works and low PPA rate are some of the hurdles for the development of the
hydropower.
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