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NHPC To Sell Power Generated From Its Upcoming Hydroelectric Projects In Nepal To PTC India
Seti River in Nepal (Pic Via Wikipedia)
Power major NHPC has signed a pact with state-run PTC India Limited for the sale of the power to be generated from its upcoming hydroelectric projects in Nepal.
The Memorandum of Understanding (MoU) for sale of power to be generated from upcoming West Seti and Seti River-6 Projects in Nepal was signed between the two companies at NHPC Corporate Office in Haryana's Faridabad.
As per the MoU, PTC will purchase the contracted capacity from NHPC from date of commercial operation of the projects for onward sale to the state utilities/discoms/bulk consumers on long term basis in India and neighbouring countries, the Power Ministry said in a statement on Tuesday (30 August).
PTC will also endeavour to sell any untied capacity on medium/short term basis or on power exchanges, the ministry added.
NHPC had on 18 August signed a MoU with Investment Board Nepal (IBN) for preparation of Detailed Project Report (DPR) and development of two hydropower projects namely West Seti (750 MW) and Seti River 6 project (450 MW) in Nepal.
NHPC is reportedly planning to invest over Rs 18,000 crore in Nepal to develop two hydropower projects.
The MoU was signed by NHPC CMD Abhay Kumar Singh and IBN CEO Sushil Bhatta in the presence of Nepal's Prime Minister Sher Bahadur Deuba.
“We assure you that to complete these projects on time and in a cost-effective manner, we shall use every bit of expertise gained while constructing and operating 22 hydropower projects in close to five decades of our existence. We will also be investing over Rs 18,000 crore to develop these projects," NHPC CMD Singh was quoted in a Livemint report as saying during the MoU signing ceremony.
Singh also said that NHPC will expedite the preparation of DPR of the twin projects and establish the techno-commercial
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