SHIMLA- The Project Development Agreement (PDA) for the Lower Arun Hydro Electric Project in Nepal, which will generate 669 MW of electricity, was signed in the presence of the Prime Ministers of India Narendra Modi and PM of Nepal Pushpa Kamal Dahal today.
The agreement was signed by Nand Lal Sharma, Chairman & Managing Director of SJVN, and Sushil Bhatta, CEO of the Investment Board of Nepal.
SJVN expressed their commitment to completing the Lower Arun project within 7 to 8 years and making it a model hydroelectric project.
They thanked the Prime Ministers of both countries for their support and the Indian government ministries for their assistance in approving the project.
The Lower Arun project will cost around Rs 5,792 crores and is expected to generate 2,901 million units of energy annually.
It will be developed without a reservoir or dam and will operate alongside another project called Arun-3. SJVN already operates a large hydro power station in India and has plans for additional projects in Nepal.
This agreement marks SJVN's second major investment in Nepal, and they are actively involved in the socio-economic development of the country. They aim to achieve a total capacity of 5,000 MW from their projects in Nepal by 2030.
