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Green Signal To 750 MW West Seti Hydropower Project
By KMT Metro Reporter
March 29, 2012: the Parliamentary Committee on Natural Resources has given a green signal to the government to go ahead with the 750-MW reservoir-based West Seti Hydropower Project following the procedural requirements yesterday, ‘The Rising Nepal’ of today writes. The government of Nepal and the China Three Gorges Corporation (CTGC) had signed off a Memorandum of Understanding (MoU) on February 29, 2012 to implement the project following the public private partnership (PPP) model.
NC lawmakers such as Laxman Ghimire and Gagan Thapa had vehemently opposed this project stating irregularities in the deal the government of Nepal reached with the CTGC. In fact, this was not the first time; such lawmakers had opposed any power projects proposed by the government to mitigate the short supply of power. Nobody knew what were the reasons for opposing the power projects but some people charged the lawmakers opposing the power projects with not having the commissions, as they had demanded.
The state-owned CTGC is the China’s largest hydropower developer. The company’s name was derived from the Three Gorges Dam: the world’s largest power station having the capacity of 20,300 MW it had constructed.
Following the deal, the CTDC will make 75% of the total investment required for the 750-MW West Seti hydropower project in a soft loan; the Nepal Electricity Authority (NEA) takes up the remaining 25%. The total estimated cost is around Rs. 124 billion.
According to another news published in ‘The Rising Nepal’ of March 28, 2012, the Nepal Electricity (NEA) and the Korea Water Resources Corporation (K-Water) on Tuesday, March 27, 2012 signed off a deal on the Joint Development Agreement (JDA) for the construction of the 47 MW Upper-Modi ‘A’ Hydropower Project. NEA takes 20% of the shares, and K-water takes 80% of the shares of the project.
