Nepal and India have agreed to build new projects by injecting joint investment in the hydropower sector. As per the agreement reached at the Nepal-India Energy Joint Meeting, a joint technical team will be formed to carry out the study as per the proposal made by India.
In the meeting that was held in Kathmandu, the two countries agreed to build more transmission lines, complete the transmission lines that are under construction, and proposed new cross-country transmission lines, completion of Arun 3 hydropower project, and energy export and import.
According to a press release issued by the Ministry of Energy, Water Resources and Irrigation, Nepal and India have agreed to form a joint technical team consisting of three members from each country to construct a large hydropower project.
An official who participated in the meeting said that the same committee will give necessary suggestions on the joint investment that Nepal and India can make in hydropower and transmission lines.
The committee will submit a report on which hydropower projects will be jointly invested and which transmission lines will be constructed and expanded to suit them.
During the meeting, Nepal had requested for approval of various proposals submitted by the Nepal Electricity Authority to export electricity to India before the coming rainy season.
“There has been consensus between the two sides that India would give approval for Nepal’s proposal to export power to India from various hydropower projects in Nepal at the earliest as per India’s existing rules on power trade,” the ministry said in a press statement.