Stories By 'BIBEK SUBEDI'
The state-owned power utility, Nepal Electricity Authority and the Central Electricity Authority of India are scheduled to meet in December to finalise the funding and implementation modalities for the New Butwal Gorakhpur Cross-Border Transmission Line Project.
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The International Monetary Fund (IMF) revised Nepal’s economic growth forecast for the current fiscal year sharply upward to 6.5 percent from its earlier estimate of 5 percent on expanding post-earthquake reconstruction and the services and manufacturing sectors.
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Electricity imports from India during peak hours jumped more than 30 percent in the past month following a sharp fall in domestic production due to shrinking water levels in the rivers where a majority of the hydropower plants are located.
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The government plans a new law that would enable it to bypass public procurement process and award projects worth Rs50 billion and above to developers through direct negotiation.
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A longstanding dispute between the Energy Ministry and the Nepal Electricity Authority has been resolved with the power utility agreeing to sign power purchase agreements (PPAs) with run-of-the-river hydropower projects under the take-or-pay modality until their combined installed capacity reaches 5,250 MW.
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Texamo, the Indian contractor executing the hydro-mechanical works of the Upper Tamakoshi Hydropower Project, promised to get its act together and expedite work to meet the new deadline of mid-November 2019 after a pep talk by the energy minister.
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