May 22: Kulman Ghising, Managing Director of the Nepal Electricity Authority (NEA), has said that both India and Bangladesh have expressed strong interest in buying electricity from Nepal.

Speaking at a program where an agreement was signed with the Employees Provident Fund (EPF) for investment in the Tamakoshi Fifth Hydropower Project, Ghising highlighted the interest of India and Bangladesh in purchasing power from Nepal. He emphasized that power exports during the rainy season would fetch better rates.

The EPF has already invested in various hydropower projects, including Upper Tamakoshi, Sanjen, Rasuwagadhi, and Madhya Bhotekoshi.

In the Tamakoshi Fifth project, which will be based in Bigu Rural Municipality in Dolakha and has a capacity of 99.8 megawatts, the EPF plans to invest Rs 13.74 billion. The total project cost, including construction period interest, amounts to Rs 21.14 billion.

The project will issue shares to the public under the People's Hydropower Program. The project's financial structure consists of 65% loan and 35% equity fund.

On Sunday, a tri-party agreement was signed among the NEA, Tamakoshi Hydropower Company (the project's promoter), and the EPF in the presence of the Minister for Energy, Water Resources, and Irrigation, Shakti Basnet.

NEA Managing Director Ghising, EPF Administrator Jitendra Dhital, and Company Chief Executive Officer Binod Bhandari signed the agreement on behalf of their respective organizations.

At the event, Minister Basnet reiterated the government's priority for hydropower production and the strengthening of transmission systems.  Minister Basnet highlighted Nepal's potential for green energy and stressed the importance of completing the project on time.