December 19, 2022 | Investopaper
A Project Development Agreement (PDA) has been signed between Manang Marsyangdi Hydropower Company and the Government of Nepal for the construction of Manang Marsyangdi Hydropower Project (135 MW). The PDA agreement has been inked to develop this project under the build, own, operate and transfer (boot model) concept.
The PDA was signed between Madhu Bhetuwal, Joint Secretary of the Ministry of Energy, Water Resources and Irrigation and Uttar Kumar Shrestha, Chairman of Manang Marsyangdi Hydropower Company.
The project will be built through foreign direct investment. The Chinese company SCIG International Limited, Qingcheng International Investment Company Limited, QYC International Company Limited and Butwal Power Company are involved in this project.
The Chinese companies will hold 80 percent shares and Butwal Power Company will own 20 percent shares.
Manang Marsyangdi Hydropower Company received the construction license of the 135 MW project from Department of Electricity Development on Magh 18, 2075 BS. Likewise, the company has signed Power Purchase Agreement (PPA) with Nepal Electricity Authority on Chaitra 9, 2077 BS.
The hydropower project will generate 766.6 gigawatt hours of electricity annually after the completion of the construction work.