June 09, 2017: Agreement with the Government of Germany
Secretary Mr. Shanta Raj Subedi at the Ministry of Finance and German Ambassador H.E Mr. Matthias Meyer signed a financial cooperation agreement of Euro 16 million
(equivalent NRs. 1.85 billion) on behalf of their respective governments.
The grant assistance committed by the German Federal Government last year will be used
for the implementation of the project “Promotion of Energy Efficiency and Renewable Energy in NepaI, Phase II”. The cooperation will comprise financial assistance for the construction of the Leknath-Damauli 220 KV double circuit transmission line. This transmission line is a crucial element of strengthening Nepal’s national grid, as it will evacuate power from various hydropower plants being constructed both by the public and private sectors.
The total cost estimate for the project amounts to €32.5 million (equivalent NRs.3.82 billion). Almost 50% of the project cost will be covered by German Financial Cooperation (through KfW), while the Government of Nepal has committed to complementing the total cost of the project through NEA’s own funds.
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