The World Bank is providing USD 99 million [USD 84 million as credit and USD 15 million equivalent in grant] for the Nepal-India Electricity Transmission and Trade Project (NIETTP) to assist Nepal's efforts to mitigate a national energy crisis. The decision to this regard was made in Washington on Tuesday.
The landmark, cross-border project will provide Nepal with at least 100 MW of additional electricity, to supplement its current electricity generation capacity of 698 MW and help minimise power blackouts, the World Bank said in a statement.
Nepal’s peak demand is 885 MW. The assistance will be provided as a package.
The NIETTP will see the establishment of cross-border transmission capacity of about 1000 MW. It will also develop key segments of the backbone high voltage system to help expand access to electricity across Nepal, the World Bank stated.
The objective of the project is to provide Nepal with at least 100 Megawatts (MW) of additional electricity and help minimize power blackouts. The project will also see the establishment of cross-border transmission capacity of about 1,000 MW and develop key segments of the backbone high voltage system to help expand access to electricity across Nepal.