By Sudeshna Sarkar, IANS,
Kathmandu : Hyderabad-based PES Engineers has become the fourth Indian company to enter Nepal’s hydropower sector, bagging the survey licence for a 110-MW project in remote Kalikot district.
The 28-year-old company with an asset base of Rs.27.8 crore (Rs.278 million/$5.9 million) and specialisation in hydro-electric, thermal and nuclear plants has been given the nod to develop the Phulkot Karnali power project on the Karnali river.
PES, which is developing the RS.500 million Birahi Ganga Hydro project in Uttaranchal, had applied for the Nepal power deal almost three years ago.
With the seal of approval from the water resources ministry, it now joins the rank of GMR, Infrastructure Leasing and Financial Services (IL&FS), and Satluj Jal Vidyut Nigam, the three other Indian companies licenced to develop hydropower projects in Nepal.
The PES entry marks the advent of the Indian investor in the medium and small power project sector in Nepal. Earlier, the focus was on big ones.
While GMR and Satluj have bagged the 300-MW Upper Karnali and the 402-MW Arun III projects, respectively, IL&FS, as part of a multinational consortium, is developing the 750-MW West Seti project, the biggest power project in Nepal.
Though Indian companies like Larsen and Toubro and Lanco Infratech are still in the fray for more bigger projects in Nepal, at least three more Indian companies are eyeing smaller schemes.
Bhilwara Energy is keen on the 100-MW Seti project in remote Bajhang district, while Pioneer Genco Ltd, also from Hyderabad, has applied for licence to develop the 58-MW Seti Nadi project.
IL&FS’ Nepal venture is also vying for four small hydel projects in the country — the 17-MW Galeswor-Beni, 27-MW Myagdi-2, 12-MW Phatankhola and 67-MW Kaligandaki-Typlian.
Except for Phatankhola, which is in western Darchula district, the rest are in Myagdi.
Hydropower remains one of the most politicised sectors in Nepal with foreign investors facing obstruction by political parties and local communities.