Kathmandu, Jan 29 (RSS): Nepal Electricity Authority (NEA) has signed the power purchase agreement (PPA) with Nepal Water and Energy Development Company, the promoter of Upper Trishuli-1 Hydroelectric Project.
The agreement was signed Sunday amidst a programme at the NEA on the witness of energy secretary Anup Kumar Upadhyay.
NEA executive director Kulman Ghising and the company chief executive officer singed on the agreement from respective sides.
The 216-megawatt project is the largest project so far made the PPA in the US dollars for a certain timeframe.
As per the agreement, the purchase rate in the winter is Rs 8.40 per unit while this rate is Rs 4.80 during summer. The signing of agreement followed the decision of NEA board of directors meeting last Wednesday.
Korean investors, the International Finance Corporation and Nepali investors have invested Rs 55 billion in the project.
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