September 21, 2022 | Investopaper
In the first two months of the current fiscal year 079/80, Nepal has exported electricity worth Rs. 4.43 billion.
Nepal Electricity Authority (NEA) has said that it has exported 48.93 crore units of electricity to India in the months of Shrawan and Bhadra. NEA started selling electricity through competition in the day-ahead market of Indian Energy Exchange Limited from 19th Jestha.
Initially, 39 megawatts of electricity produced by the two projects were exported on a daily basis. Since Jestha 27, the authority has been selling 364 megawatts of electricity produced by six projects.
NEA has earned Rs. 7.19 billion by exporting 78.78 crore units of electricity from Jestha to Bhadra. Kulman Ghising, executive director of NEA, said that the income from electricity export is contributing to Nepal’s foreign exchange reserves and reducing the trade deficit between the two countries.
“In the current year, we have set a target of earning about Rs. 16 billion from the export of electricity,” he said.