NEA to buy electricity from power project under construction at Sharpu

electricity from power project

Nepal Electricity Authority (NEA) has decided to buy electricity from the power project under construction at Sharpu in Banfikot Guanpalika-3. For that, a power purchase agreement (PPA) was signed between Sharpu Power Company Limited and Nepal Electricity Authority on Friday.

The agreement has been signed by Chief Executive Officer Pradip Oli on behalf of the company and Executive Director Hitendra Dev Shakya on behalf of NEA. Sharpu Power Company is constructing another power project from the water flowing from Sharputal. According to Chief Executive Officer Oli, Sharpu Power Company has been established under the full ownership of the District Coordination Committee. In which 3.3 MW of electricity will be generated with the share investment of all local level and district residents of the district.

The NEA will purchase 181,77,105 units annually from the project along with the purchase agreement. The project is estimated to earn Rs. 101.5 million annually. Chief Executive Officer Oli said that about 50 percent of the construction work has been completed.