Asian Hydropower Selected To Develop Two Grid Connected Solar PV Projects

Asian Hydropower Limited has been selected through a competitive bidding process by the Nepal Electricity Authority (NEA) to develop two grid-connected Solar PV projects and has received Letters of Intent (LOI). As per NEA requirements, the selected company established two Special Purpose Vehicles under the Companies Act, 2063, in which it remains a shareholder, to execute Power Purchase Agreements for the solar projects.

The first SPV, Integrated Energy & Industrial Enterprises Pvt. Ltd., is developing a 30 MW Dhalkewar-2 Solar Project in Mithila Municipality, Dhanusha District, Madhesh Province. The second SPV, Mithila Solar Energy Pvt. Ltd., is developing a 10 MW Haripur Solar Project in Lalbandi Municipality, Sarlahi District, Madhesh Province.

Power Purchase Agreements with NEA have been successfully signed for both projects.