Peoples Energy Public Ltd. (PEPL) of Nepal has recently signed a MoU with Chongqing Water Turbine Works Company Ltd. (CWTW) to develop and construct the 48.8-MW Khimti II hydropower project located on Khimti Khola River in Nepal.
HydroWorld notes that at the plant’s location, Khimti River forms the boundary between Ramechhap and Dolakha districts in the Central Development Region of Nepal.
According to an announcement on March 25, PEPL said the initial agreement was signed with CWTW in China earlier this month and an additional signing ceremony took place on Sunday in Nepal.
CWTW is a state-owned holding company based in China, and Peoples Energy Public Ltd., located in Kathmandu, was incorporated by Nepal’s Ministry of Energy in July 2016.
The project is being promoted by the private sector under an engineering, procurement, construction and financing (EPCF) modality. PEPL said this is the first time a project in Nepal is being developed under EPCF modality.
Krishna Acharya, PEPL chairperson, said CWTW will invest about US$88 million in the project and construction is scheduled to begin in April with plant commissioning expected in July 2021.