The Cabinet Committee on Economic Affairs (CCEA) has approved an investment of Rs 57.92 billion for SJVN Limited’s 669 MW Lower Arun hydroelectric project (HEP) at a tariff of Rs 4.99 per unit.
The CCEA also granted retroactive approval for the special purpose vehicle and approved an equity investment of Rs 17.37 billion in SJVN Lower Arun Power Development Company Private Limited. The project, located in Nepal’s Sankhuwasabha district, will use four units of 167.25 MW each and is expected to generate 2,900 million units of energy annually. The project is anticipated to be completed within 60 months and will connect to a 217 km transmission line currently under construction to Sitamarhi, Bihar.