Nepal Electricity Authority (NEA), the state-owned power utility has signed a power purchase agreement (PPA) with Ilep Khola Hydroelectric Project to purchase 23.6 MW of electricity generated by the project.

As per the PPA, the hydroelectric project located in the Ruby Valley of Dhading district has to complete the financial closure within a year and start commercial generation by December 2024.

According to the power purchase guidelines, the project will get Rs8.40 for a unit of electricity during the dry season lasting from December to May and Rs4.80 for a unit of electricity during the wet season lasting from June to November. Jagadishwor Man Singh, deputy managing director at the NEA and Tilak Lama, chairman of the project signed the PPA on behalf of their respective organisations.