India OKs SJVN’s investment proposal for hydro project in Nepal

Authorities also approved an equity investment of $208.52m.

The Cabinet Committee on Economic Affairs (CCEA) in India has approved the investment of $6.95b (INR5,792.36 crores) for the 669-megawatt (MW) Lower Arun Hydro Electric Project (LAHEP), according to SJVN.

In a statement, the state-owned firm said the committee also approved the special purpose vehicle SJVN Lower Arun Power Development Company Private Limited (SLPDC), a wholly owned subsidiary of SJVN incorporated in Nepal for implementation of LAHEP. The panel also gave its go signal for an equity investment of $208.52m (INR1,737.70 crores) in SLPDC.

LAHEP is located downstream of the 900 MW Arun-3 Hydro Electric Project (HEP) on river Arun in Sankhuwasabha district of the province-1 in Nepal. This will not have any reservoir or dam and will operate as a tandem operation system with Arun-3 HEP, generating 2,900 million units of energy annually.

SJVN said the project is slated for commissioning within five years of investment approval. The generated electricity will be transmitted through a 217-kilometre, 400-kilovolt double circuit transmission line to Sitamarhi, Bihar.

“The power generated from this project will be fully utilised in Nepal and Indian grids and will help in providing grid stability. Besides adding valuable renewable energy to the grid, the project would also lead to carbon emission reduction of about 26 lakh tonnes annually,” SJVN said.

Aside from Arun-3, and Lower Arun projects, SJVN is also executing the 630 MW Arun-4 HEP for a total capacity of 2,199 MW in Nepal.

$1 = INR83.97

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