Kathmandu, Oct 21: The Power Purchase Agreement (PPA) of the semi-reservoir Masryangdi River Hydroelectric Project with a capacity of 90 MW has been completed.
The PPA concluded on Kartik 1, 2080 BS was signed by Nepal Electricity Authority (NEA) Executive Director Kulman Ghising and Company Chairman Anup Acharya.
According to the promoter company MA Power Pvt Ltd, the Masryangdi River Hydropower Project to be built in Bhanu Municipality of Tanahun and Palungtar Municipality of Gorkha will be completed within the next five years.
There is an agreement to buy and sell the electricity of the project at Rs 4.80 during the rainy season and Rs 8.40 during the winter.
The project will produce 184.67 gigawatt hours of energy in winter and 377.93 gigawatt hours during the rainy season.
Chairman Acharya informed that the target is to produce electricity commercially on 22nd Baisakh 2086.
Acharya said that the environmental impact study (EIA) of the project is in the final stage and necessary procedures have been initiated with Nepali as well as foreign investors for financial management.
According to Acharya, the construction of the 22MW Seti Khola Hydroelectric Project being constructed by MA Power will be completed within 6 months and the construction of Masryangdi River Hydroelectric Project will begin soon.