Nepal, India ink PTA RUDRA PANGENI To facilitate investments in hydropower Separate agreements for investment and construction of cross-border transmission lines No tax on power trade Non-discriminatory access to cross-border interconnections for licensed participants KATHMANDU, Sept 4:Nepal and India on Thursday signed a 25-year agreement on power trading, cross-border transmission line and grid connectivity. The eight-point agreement signed by Energy Secretary Rajendra Kishore Kshatri and his Indian counterpart Pradeep Kumar Sinha in New Delhi has paved the way for both the countries to sell and purchase electricity through synchronized connection. In a major departure, the agreement also envisages extending markets for electricity generated by hydropower projects in Nepal at the sub-regional and regional level. Talking to media persons, Minister for Energy Radha Gyawali expressed happiness as India signed the agreement as proposed by Nepal through its latest draft sent to Delhi after all-party consensus. Article VI of the agreement says, “The agreement shall not affect in any way the obligations of the parties under existing bilateral agreements between the parties as well as their existing agreements with other countries.” Minister Gyawali also said that she will soon forward the signed document to Prime Minister Sushil Koirala for endorsement by the cabinet. The agreement will come into effect after endorsement by the cabinet of both the countries. Hydropower developers have heaved a huge sigh of relief and are hopeful of sustainable power supply through two-way power exchange. Published on 2014-09-05 07:13:15
Posted on: Fri, 05 Sep 2014 04:30:39 +0000
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