New Generation Power (NGP), a Chicago-based renewable energy company, and Hydro Solutions (HSL), a Nepali hydropower company, have signed a Memorandum of Understanding (MoU) to develop clean energy projects with a total capacity of around 400MW in Nepal. The MoU was signed by Dr. Chirinjeev Kathuria, Chairman and Nisha Joshi, Senior Vice-President (International) of NGP and Gyanendra Lal Pradhan, Executive Chairman of Hydro Solutions and Suman Neupane, President of NIC. Manish Miglani, the founder of MEI, facilitated this signing of MoU between NGP and HSL.
According to Pradhan, the companies will now jointly work to develop, manage and even acquire clean energy projects in Nepal. HSL and NGP will also form a consortium including two of the latter’s partners -Nepal Infrastructure Consult (NIC) and Moksha Energy International (MEI) – to work together to develop and manage clean energy projects in the country,” Pradhan said.
NGP, in association with some of its partners such as Panasonic, Martifer Solar or Toshiba,, has already built renewable energy projects (solar, biomass, wind, hydro, waste to energy, and geo-thermal energy) worth over 200MW in different parts of the world. Other projects, with a total capacity of around 3,000 MW, are still in the pipeline. HSL is a rapidly expanding energy company in Nepal. The company is already operating the 4.2MW Baramachi hydel project in Sindhupalchowk. Similarly, the 3.5 MW Charnawati in Dolakha, 10MW Upper Mai in Ilam, 20MW Lower Modi in Parbat and the 6.1MW Upper Mai ‘C’ in Ilam are in the final stage of construction. Likewise, the 42.9MW Ankhu in Dhading, 280MW Kaligandaki Gorge in Mustang and the 2.4MW Lower Charnawati in Dolakha are in the pre-construction phase, according to HSL’s website.
NIC is a New York-based company which represents NGP in Nepal. MEI explores viable and creditable clean energy projects from around the globe on behalf of NGP. “HSL has its own portfolio of projects whose cumulative capacity is more than 400MW. So, finding suitable projects is not going to be a problem. Also, we may acquire other projects as well,” said Pradhan.
