05 Jun '17, 8am

#Nepal, #China sign mega hydropower agreement

KATHMANDU (AFP) - Nepal has signed an agreement with a Chinese company to build the largest hydroelectric plant in the impoverished landlocked country, which suffers from a chronic energy shortage. Nepal's energy minister Janardan Sharma on Sunday signed the agreement for the China Gezhouba Group Corporation (CGGC) to build the long-mooted 1,200 megawatt Budhi-Gandaki hydroelectric project. Estimates put the project cost at US$2.5 billion. A financing agreement will be signed later, ministry spokesman Dinesh Kumar Ghimire told AFP. Water-rich Nepal has a mountain river system that could make it an energy-producing powerhouse, but instead it imports much of its electricity from neighbouring India. Get The Straits Times newsletters in your inbox Sign Up Experts say it could be generating 83,000 megawatts, but its total installed generation capacity currently stands at less t...

Full article: http://www.straitstimes.com/asia/east-asia/nepal-china-si...

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