Mumbai: Nepal with its hydel potential is attracting Indian power generation majors like Tata, Reliance, GMR and JP Group to bid for as many as three mid-size power projects in the Himalayan nation.
The bids are likely to be opened in the next couple of weeks.
“As the power sector was earlier in government sector, less than one per cent has been tapped. Now we have opened it to foreign investors and have been receiving good response from India,” Nepal Finance Minister Ram Sharan Mahat said on the sidelines of the SAARC Business Leaders Conclave hosted by industry chambers FICCI here.
Companies like Tata Power, Reliance Energy, L&T, GMR Group and JP Group have bid for three mid-size power projects of 300-600 MW capacity, Mahat said.
“The evaluation of bids is on and we would take a decision in next couple of weeks,” he added.
The three projects include 300 MW Upper Karnali project, 402 MW Arun III and 600 MW Budhi Gandaki. Reportedly, apart from Indian companies, China too has shown keen interest in operating hydroelectricity projects in Nepal.
Awards would be made on the basis of free share of electricity for the government.