Revoke licenses for projects that have not been built and make new PPA
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The government is going to allow energy promoters to sell up to 40 percent shares to the general public. Releasing the budget statement for the fiscal year 2083/084, Finance Minister Wagle said that if the private sector ensures 100 percent investment in reservoir-based projects, up to 40 percent IPO will be allowed.
‘To encourage the private sector to develop large and reservoir-based hydropower projects, we will make arrangements to sell 40 percent shares to the general public in the first year if the promoter ensures 100 percent investment in reservoir-based projects,’ he said.
The government is also going to cancel the licenses of projects that have not been built and enter into a new PPA. Along with this, the government is not going to enter into a new power purchase agreement (PPA). He said that the licenses of projects that have been PPA but have not started construction will be canceled and a new PPA will be entered into on the ‘take or pay’ method.
