Minister for Energy Shakti Bahadur Basnet has said there was no alternative to developing the reservoir-based hydropower projects to address the country's energy needs.

At a program organized by Dharche, Arughat and Chumnubri rural municipalities of Gorkha district on Saturday, the Energy Minister stated that Nepal should develop the reservoir-based hydropower projects to maintain energy balance.

Minister Basnet shared that the government has forwarded the Dudh Koshi in eastern belt, Budhigandaki in central and Nalgadh in the western part, all three reservoir-based hydropower projects, in the country with high priority to meet the country's demand for energy.

"Much has been advanced for the Budhi Gandaki Hydropower Project. Nalgadh is also in the stage of implementation," Minister Basnet added.

Despite the country's century-long history in electricity production, a great stride was made in power production in the past decade, he observed.

Constituent Assembly Member Chham Bahadur Gurung and promoters of different hydropower projects from Gorkha district were present at the program.

Meanwhile, the investment modality for the Budhi Gandaki Hydropower Project is being finalized after a long wait. The government has confirmed the investment modality to develop the project from the domestic capital.

Chief Executive Officer of Budhigandaki Hydropower Project Jagat Shrestha said that the Board of Directors of the company has decoded and submitted two options at the Ministry of Energy, Water Resources and Irrigation for further decision.

The company's Board of Directors meeting held last week has approved the proposals along with two alternatives on investment modality and fiscal planning.

Now, the Ministry of Energy, Water Resources and Irrigation will make a final decision on the proposals and will send the documents to the Finance Ministry for consent.

After the Finance Ministry's nod, the Council of Ministers shall take a decision on the project development. Prime Minister Pushpa Kamal Dahal is to mark the groundbreaking ceremony of the project soon.