Recentfusion.com—Pokhara: The power generation from Upper Madi Hydroelectric Project has officially been commenced from the day before in Nepal’s Kaski District. Energy Minister Janardhan Sharma inaugurated the power generation from that project located in Sildajure village development committee.
The 25 megawatt project developed by Madi Power Pvt Ltd reached around 7 billion rupees from previously estimated 5.80 billion rupees. The foundation stone for the project was laid by then Prime Minister Baburam Bhattarai 4 years before.
The China International Water & Electric Co (CWE) provided load for the project under the build-operate-transfer system and the company has an 80 percent share while Project Director Bijay Babu Malla holds the remaining 20 percent shares.
Last year’s devastating earthquake, Indian embargo and the massive landslide near project site forced the project to complete delay. Speaking in an inaugural program, minister Sharma said that the opening of that project was an important task as the Nepal is reeling under load-shedding.
As per the PPA signed with the Nepal Electricity Authority on September 6, 2009, the project will sell electricity for Rs4 per unit in the time of wet season and Rs7 per unit in the dry time. However, Malla requested the government to review the rates citing increased costs.
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