Nepal and Bangladesh will be finalizing the investment modality for the Sunkoshi-3 Hydropower Project in the bilateral energy talks that will kick off on Monday.

The two-day bilateral energy talks have been scheduled for May 15 and 16 in Bangladesh. Madhu Prasad Bhetuwal, spokesperson for the Ministry of Energy, Water Resources and Irrigation, said the talks will mainly focus on expediting the Sunkoshi-3 Hydropower Project and cross-border energy trade.

The two-day meeting will conduct a joint-secretary level meeting, followed by discussions at the secretary-level. “The meeting will look for finalizing the investment modality of the project,” Bhetuwal said.

While Bangladesh is keen to purchase electricity from Nepal, the Himalayan country is also looking forward to extending its cross-border energy trade to other countries apart from India. Bangladesh has already given green signal to buy 50 MW of electricity produced by Nepali power plants.

The two countries have been looking forward to jointly developing Sunkoshi-3. Nepal, in this regard, has already provided the feasibility study report and environmental impact assessment report to Bangladesh.

Bhetuwal said the two countries are looking forward to establishing a joint company for the construction of Sunkoshi-3, which will also be the main agenda of the meeting.

Similarly, the meeting will also focus on finalizing a Memorandum of Understanding between Nepal Electricity Authority and Bangladesh Power Development Board to start electricity trade. According to Bhetuwal, the private sector of Bangladesh is also willing to invest in hydroelectricity in Nepal, and there will be discussions on how to go about it.