Nepal has signed a pact with an Indian company NHPC to develop a hydroelectric plant in the west of the nation years after a Chinese firm backed out, officials said on Thursday.
Nepal has opened its rivers, which it sees as having a combined potential to generate more than 42,000 megawatts of hydroelectric power, to foreign players to develop its economy and export electricity to narrow the trade deficit of more than $13 billion.
Officials said India’s NHPC Ltd signed a memorandum of understanding (MOU) on Thursday allowing it to study details like feasibility, environmental impact, inundation of land and construction costs for two projects – West Seti (750 megawatts) and SR 6 (450 megwatts).
