HIDCL invests 20% equity in HVPL

KATHMANDU: Hydroelectricity Investment and Development Company Limited (HIDCL) will invest 20% equity in Hydro Village (HVPL), the promoter of Myagdi Khola Hydropower Project (57.3 MW) in Myagdi district. HIDCL has decided to invest in the company as per the concept of Public Private Partnership (PPP) and to expand the scope of equity investment. HIDCL's Chief Executive Officer Arjun Kumar Gautam and HVPL Chairman Captain Rameshwar Thapa signed the investment agreement. This is the fourth project in which HIDCL has invested equity in its 11-year investment journey, said CEO Gautam. He said the company would continue to invest in other similar attractive projects in the private sector. The project is now owned by HVPL, HIDCL and a Malaysian company. An investment agreement has already been signed with the Malaysian company. HVPL Chairman Thapa expressed his commitment to work diligently to generate electricity by completing the construction on time as suggested by HIDCL. Meanwhile, a road is being constructed to gain access to the project site, according to HVPL Managing Director Sushil Pokharel. Pokharel said the project is of tourist importance as it will be constructed near the base camp of Mount Dhaulagiri. He said education, health, communication and employment opportunities will be given high priority in the area. He was of the view that it would help in raising the living standards of the local residents. Prior to this, HVPL signed a Power Purchase Agreement (PPA) with Nepal Electricity Authority (NEA) on September 26, 2018, for the project to be constructed in Dhaulagiri Rural Municipality. The study has shown that the project will generate 334 million units (334 GWh) of electricity annually. The power generated from the project will be connected to Dandakhet substation of NEA 17 kilometres away from the powerhouse through 132 kV double circuit transmission line. According to the PPA with NEA, the company has to generate electricity within October 2025. READ ALSO:

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