The Tamakoshi hydropower project of 650 MW was abandoned by Norwegian company, SN Power saying that there was no market for power produced from the project. Likewise, the 762 MW Tamor project, including a reservoir, is currently under study by Nepal Electricity Authority (NEA).

The company has proposed to build the project on the engineering, purchase, construction and funding (EPCF) mechanism, according to CMEC’s Nepal Representative Biswas Khatiwada.

As per the provision to deal with projects with 500 MW and above through the Investment Board Nepal (IBN), the company has made the proposal to the board.

The company has also included a letter of intent for loan investment from the ICBC Bank of China, according to Khatiwada.

The CMEC is a subsidiary company of the SINOMACH Company of China.

The state-owned Chinese company is the latest among the increasing number of companies from China investing in the hydropower sector of Nepal.

“As we’ve fulfilled all required procedures, we’re hopeful our efforts to help Nepal resolve power crisis would bear fruit,” said Khatiwada representing the CMEC.