December 24: Nepal Electricity Authority (NEA) has signed Power Purchase Agreement (PPA) with mid-Trishuli Ganga Hydropower Project which is under construction in Nuwakot.

Rastriya Samachar Samiti reported that the deal was signed by the NEA and Perfect Energy Development Pvt Ltd, the promoter company, for the purchase of power generated from the 19.41-MW hydropower project.

According to the agreement, electricity generated from the project in the dry season (December-May) will be purchased at the unit cost of Rs 8.40.  Perfect Energy Development Pvt Ltd said in a statement that the NEA will purchase electricity at Rs 4.40 per unit in the rainy season.

The agreement was signed by Deputy Executive Director of Planning, Monitoring and Information Technology Directorate Jagadisworman Singh and Power Trade Department Chief Prabal Ahikari on behalf of NEA and Managing Director Bharat Kumar Khadka and residential engineer Devendra Basnet on behalf of the promoter company.

As per the PPA, the project will complete the construction of the hydropower in May 2023 and subsequently supply electricity to the NEA.