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The Board of Investment has decided to recommend to the government to form a Project Review Task Force (PRP) to extend the commercial production date (COD) of the Arun-3 hydropower project. The 63rd meeting of the board has decided to recommend to the government to form PRP according to the Organization Development Agreement (PDA) of Arun-3 with a capacity of 900 MW.
PRP will go to the project site to study and review the reasons given for extending the deadline of Arun-3 hydropower project and prepare a report. The board said that it has submitted an application to extend the term of COD till September 2026, showing problems such as transmission lines and land acquisition.
The construction of Arun-3 should have been completed by March 2025. But after the company failed to work, the COD time was 18 months An application has been submitted to the Board of Investment for addition. Spokesman Pradyumna Upadhyay said that after the PRP is formed by the Cabinet, the board will decide whether to increase the time of COD only according to the report of the PRP. According to him, PRP with three expert members should be formed.
In the second week of last May, India's Minister of Electricity, Manohar Lal Khattar, while monitoring and observing the project, said that 75/80 percent physical progress has been made towards the production of Arun-3 and 30 percent towards the transmission line . The total estimated cost of the project is 144 billion rupees.
In 2008, Sutlej Jalvidyut Nigam, owned by the Government of India, took its license on a competitive basis . Former Prime Minister KP Sharma Oli and Indian Prime Minister Narendra Modi laid the foundation stone of Arun-3, which was PDA in 2014, in a program held in Kathmandu in 2018.
According to the PDA, Nepal will get 21.9 percent or 197 megawatts of free electricity from the project. The project will have to pay 7% energy royalty for 15 years after the start of production and 12% energy royalty for the next 10 years to the Government of Nepal.
Similarly, for 15 years after the start of production, 400 rupees per image and 1800 rupees per image for the next 10 years will have to be paid to the government . It is mentioned in the PDA that the project will be handed over to the Government of Nepal after 25 years of completion. Annual energy production from the project will be 4 billion 18 million units . Just last Friday, India's government company Damodar Valley Corporation (DVC) signed an agreement to buy 200 MW of electricity from Arun-3, which is being built by Satjal Jalvidyut Nigam (SJVN), which is owned by the Government of India.
Last Friday in New Delhi, India, SJVN and DVCB signed a Power Sale Agreement (PSA) according to the Indian media. Arun-3 hydropower project is expected to be operational from the year 2027/028 mentioned in the Indian media .
