January 27: The Government of Nepal, Investment Board and Risen Energy Singapore JV Pte Ltd have signed a Memorandum of Understanding (MoU) to prepare a Detailed Feasibility Study Report (DFSR) for establishing a 250-megawatt Grid-Connected Solar Energy Project with a battery storage plant of 40 MW capacity in Nepal.
As per the MoU, Risen Energy will conduct a study on setting up one solar energy project of 125 megawatt capacity each in Kohalpur of Banke and Banganga of Kapilbastu along with two battery storage plants of 20 MW capacity each.
The estimated cost of the project is USD 189.5 million, according to Joint Secretary Ramesh Adhikari.
CEO of the Investment Board Sushil Bhatta and Development Manager of the Singapore-based company Wang Qiang signed the MoU amid a function at the board’s office on Tuesday, January 26.
Risen Energy will have to submit the DFSR to the board within 12 months of receiving survey license.
The proposed project is the biggest solar energy project in the country.