--By TC Correspondent 

 

The construction of the much awaited 216 MW Upper Trishuli-I hydroelectricity project at Rasuwa district is to start in September.

 

The $550 million project is promoted by Nepal Water and Energy Development Company Ltd (NWEDC) and will generate 1456GWh of energy per year after its commissioning scheduled in March 2019. The construction of its access road will start within this month and the main project development is expected to begin in December.

 

The Engineering Design and Environment Impact Assessment Report have been already approved by the government authorities and drilling and drifting works, company registration, financial arrangement of equity capitalhave been made, says the company.

 

Similarly, tree cutting approval has been received and land acquisition has already been done, it adds. “The project, once completed, will help in reducing daily load shedding by three to four hours,” said CEO of NWEDC Kim Kyung Sik. 

 

NWEDC is predominantly a South Korean group of three companies with 75 per cent of the total equity share, which includes Korea South East Power Company Ltd (KOSEP), Daelim Industrial Company Ltd, and Kyeryong Construction Industrial Company Ltd.

 

The International Finance Corporation (IFC) has joined as a co-developer for the project while Daelim and Kyerong will be the Engineering, Procurement and Construction (EPC) contractor. The operation and maintenance will be done by KOSEP.

 

Sik said, “This is a reason for hope and optimism in the midst of serious crisis that has debilitating effect on Nepal economy. The project once completed, will help reduce daily load shedding by 3 to 4 hours. We are maintaining a good relation with the local people and with the administration. They are very much interested in the project and we are thankful for their support and cooperation.”

 

The successful completion of the project means technology transfer of operation and management, employment creation of 300 to 500 people for construction, substituting annually diesel imports equivalent to 20 million US dollar and helping grow Nepali economy, he added.

 

The Upper Trishuli-I project will be one of largest hydroelectric power project in Nepal in terms of investment. It will increase existing hydro-electric generation capacity in Nepal by almost one third (216 MW), and will add around 50 per cent (1455 GWh) to the annual electricity generated in Nepal.

 

“It will help meet the huge unfulfilled demand of electricity in Nepal. We have a strong and committed list of sponsors for the project, which bring together a mix of local understanding and technical competence of setting up similar projects in other parts of the world,” Sik said. 

 

“The project will help in attracting International investors in Nepal’s hydropower development, including South Korean Investors. It will also help to further strengthen the cordial relationship between Nepal and South Korea. We look for forward Nepal Electricity Authority’s support in future,” he added.

 

•Expected to be one of largest hydroelectric power project in Nepal in terms of investment.  • Increase existing hydro-electric generation capacity in Nepal (651 MW) by almost one third (216 MW). • It will add around 50 per cent (1533 GWh) of electricity to the current annual electricity generated in Nepal. • Project site 70 km away from Katmandu, which makes it ideal for supply to the load center. •More Korean investment in the pipeline.