The MoU was signed among five institutions—Hydroelectricity Investment and Development Company Limited (HIDCL), Rastriya Prasharan Grid Company Limited (RPGCL), Chainpur Seti Jalbidhyut Company Limited (CSJCL), Chilime Seti Hydropower Company Limited (CSHC) and Samriddhi Engineering Limited (SEL)—with the aim of collaborating in the construction of hydropower projects and transmission infrastructure under the West Seti Corridor.
The agreement was signed by Prajesh Bikram Thapa CEO of HIDCL, Sagar Shrestha Chief Executive Officer of Rastriya Prasharan Grid Company Limited (RPGCL), Anil Bhakta Shrestha Chief Executive Officer of Chainpur Seti Jalbidhyut Company Limited (CSJCL), Narayan Prasad Acharya of Chilime and Shailendra Guragain hydropower entrepreneur.
As per the MoU, there will be multilateral cooperation in the construction and mobilisation of financial resources and operation of the Bajhang-Nilegada-Dodhara 400 kV cross-border transmission line and three hydropower projects connected to the line—Chainpur Seti (210 MW), Seti River-3 (87 MW) and Bajhang Upper Seti (216 MW).
The HIDCL will lead the financial management of the projects, while RPGCL will take the responsibility of constructing and operating the transmission line through a “Special Purpose Vehicle (SPV)” after determining the necessary model.
