India, Nepal agree to build hydroelectric power plant
Six Mous on cooperation in cultural and educational sector signed as PM Modi visits Nepal
India and Nepal will build a 695 megawatt (MW) hydropower plant, officials said on Monday, as the Himalayan nation looks to exploit its abundant potential to generate clean energy to ease power shortages.
India, which has an electricity trading deal with Nepal, is investing billions of dollars in infrastructure including hydropower plants.
The Arun IV project will be jointly built on the Arun River in Nepal’s east by India’s Satluj Jal Vidyut Nigam (SJVN) Ltd and Nepal’s state-owned Nepal Electricity Authority (NEA) owning 51 per cent and 49 per cent of equity respectively, NEA spokesperson Suresh Bahadur Bhattarai said.
“Nepal will get 152 megawatt of free electricity from the plant for its consumption and the rest will be split between the two on the 51 per cent and 49 per cent basis,” Bhattarai told Reuters without giving further details.
“Cost of the project is being worked out and whatever it comes will be shared as per the above ratio.”
The power plant agreement is among six deals concluded between India and Nepal during the Indian Prime Minister Narendra Modi’s fifth visit to the Himalayan nation on Monday, India’s Ministry of External Affairs said in a statement.
During the visit Modi met his Nepali counterpart Sher Bahadur Deuba and took part in a ceremony to mark the birth anniversary of Gautam Buddha at Lumbini in southwest Nepal.
Indian companies are negotiating with the government for power plants that would produce a total of 8,250 MW and Nepal hopes to export excess energy to India, officials said.
Nepal has the potential to produce 42,000 MW of hydropower but now generates about 1,200 MW — less than demand of about 1,750 MW. The deficit is met by imports from India.
India and Nepal’s ever-strengthening friendship and our closeness will benefit the entire humanity in the kind of global conditions that are emerging
Narendra Modi
Indian Prime Minister
As this year marks the 75th year of formalisation of diplomatic relations between Nepal and India, we look forward to strengthening our relations based on mutual respect and understanding,”
Sher Bahadur Deuba Nepalese Prime Minister
Modi on Monday said he had an “excellent” meeting with Nepalese counterpart Sher Bahadur Deuba in Lumbini — the birthplace of Gautam Buddha — and discussed the full range of bilateral relations as the two sides inked key Mous to diversify and deepen cooperation.
Modi, who visited the Himalayan nation at the invitation of Deuba on a day-long visit to Lumbini on the occasion of Buddha Purnima, also discussed specific initiatives and ideas to further strengthen cooperation in various sectors, including culture, economy, trade, connectivity, energy and development partnership.
“Today’s meeting with PM @ Sherbdeuba was excellent. We discussed the full range of relations between India and Nepal. Key Mous were signed which will diversify and deepen cooperation,”
PM Modi tweeted. The two sides signed six Memorandum of Understandings (Mous) on cooperation in cultural and educational sectors.
During the meeting, both the prime ministers followed up on their discussions held on April 2 in New Delhi.
“They discussed specific initiatives and ideas to further strengthen cooperation in various sectors, including culture, economy, trade, connectivity, energy and development partnership,” the MEA said in a press release.
The two sides agreed in principle to establish sister city relations between Lumbini and Kushinagar, that are among the holiest sites of Buddhism and reflects the shared Buddhist heritage between the two countries, it added.
The two leaders expressed satisfaction at the progress made in bilateral power sector cooperation in recent months, that covers development of generation projects, power transmission infrastructure and power trade.
Earlier, Modi said that India and Nepal’s ever-strengthening friendship and their closeness will benefit the entire humanity in the emerging global situation.
“India and Nepal’s everstrengthening friendship and our closeness will benefit the entire humanity in the kind of global conditions that are emerging,” Modi
said while addressing the International Buddhist Conference in Lumbini.
Prime Minister Modi, who attended the 2566th Buddha Jayanti Celebration at International Convention Centre and Meditation Hall at Lumbini, was accompanied by his Nepalese counterpart Deuba and his spouse Dr Arzu Rana Deuba.
Several Nepalese ministers were among the other dignitaries present.
“Buddha is the embodiment of the collective understanding of humanity,” Modi told the gathering that included monks, Buddhist scholars and international participants. — reuters, pti