Nagender Singh, Shimla, May 16
India’s Satluj Jal Vidyut Nigam (SJVN) Ltd and Nepal’s state-owned Nepal Electricity Authority (NEA) on Monday signed an agreement during the Prime Minister Modi’s Nepal visit to built 490megawatt (MW) Arun-4 hydropower plant, said a SJVN spokesman here today.
This historic MoU was signed by SJVN Chairman Nand Lal Sharma and Nepal Electricity Authority (NEA) Managing Director Kulman Ghising.
Chairman and Managing Director Nand Lal Sharma said it will be the third mega project to be constructed by the company in Nepal. The construction of 900 MW Arun-3 projects is in progress and the 669 MW Lower Arun project is at the survey and investigation stage.
SJVN’s billions of rupees investment in the hydel energy sector in Nepal helps expand India’s geopolitical influence where China is also increasingly active to grow its geostrategic clout, feel global strategy experts.
The Himalayan nation looks to exploit its abundant potential to generate clean energy to ease power shortages.
“The construction of this project upstream of Arun-3 HEP, will be taken up by this JV, which on completion shall generate around 2100 Million Units of energy per annum. The estimated developmental cost of this Project which is situated in Sankhuwasabha District Province-1 of Nepal is INR 4900 Crores,” said Nand Lal Sharma, Chairman SJVNL here today.
Speaking on the importance of this agreement, Sharma said that the signing of this MOU is a landmark step towards achieving India-Nepal Joint Vision on Power Sector Cooperation.
“With signing of this MoU, SJVN now has three projects of a total 2059 MW portfolio, in Nepal. SJVN is targeting 5000 MW Projects in Nepal by 2030,” added Sharma.
Detailing the economic benefits of the development of these Projects by SJVN in Nepal, Sharma said that they will result in overall development and boost mutual economic growth in India and Nepal. He said that the Infrastructural Development related to project activities would
ensure overall socio-economic development of the region. In addition to these three Hydro Projects in Nepal, SJVN is also constructing a 217km 400 kV associated transmission system for evacuation of Power.
“With total portfolio of around 31500 MW, SJVN now has Power Projects of more than 30 GW capacity under operation and different stages of development. These recent additions of New Projects are leading the company towards actualizing its Shared Vision of 5000 MW by 2023, 25000 MW by 2030 and 50000 MW installed capacity by 2040,” said MD of SJVN, Nand Lal Sharma.
