IPPAN to sign agreements while in the Power Summit

IPPAN to sign agreements while in the Power Summit

IPPAN has told that it will endorse eight agreements with foreign firms and lender companies associated to the hydropower sector while in a Power Summit scheduled to be carried in Kathmandu from November 21 to 22.

The National Hydroelectric Power Corporation, India and Hydroelectricity Investment and Development Company Ltd, Nepal will ink a hydropower development agreement according to IPPAN. Furthermore, an agreement within Nepal Power Exchange Ltd and Indian Power Exchange Ltd and Power Cell Bangladesh will also be confirmed. Further, Women in Power Forum and International Finance Corporation, Nepal Bankers’ Association, IPPAN, and Netherlands Development Finance Company (FMO), Investment Board Nepal and Power China will sign an agreement to build Tamor Reservoir Project.

Likewise, GMR Group, India and Bangladesh will sign a power trade agreement of the Upper Karnali Hydropower Project. Shailendra Guragain the president of IPPAN told that few of the agreements are in the discussion phase and will be made public while in the summit. He said that they have finished the preparations for the summit, which is assumed to create a platform for regional cooperation for power trade during various discussion sessions, adding that he said the summit will explore new markets as well as the augmentation of power trade within and beyond the border.

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