NHPC to develop hydropower projects in Nepal

New Delhi: NHPC Limited, India's premier hydropower company has added yet another feather to its cap by signing a memorandum of understanding (MoU) with Hydropower Investment and Development Company Limited (HIDCL), Nepal, the premier organisation for jointly developing hydropower projects in Nepal. Owing to the ongoing Coronavirus (COVID-19) pandemic situation and restrictions, the MOU was signed through video conferencing between NHPC Corporate Office at Faridabad and HIDCL Office at Kathmandu, Nepal on Monday. The event has been attended by senior management from both sides. "This exemplifies the continuous efforts being made at NHPC to ensure continuity of business operations and efforts to increase the business footprint at all times," NHPC said in a statement.

NHPC further said "In the continuous efforts to increase our geographic footprint and for sharing the hard-earned expertise of harnessing hydropower in the Himalayas with fellow stakeholders in the region for mutual benefit and regional prosperity, NHPC under the stewardship of CMD, AK Singh has embarked on a strategic mission to increase inter-regional cooperation with Nepal. The signing of the MOU marks the fruition of yearlong efforts during his tenure as erstwhile ED-RE&C and now as CMD to forge collaborations with the government entities in Nepal for taking up the development of hydropower projects in Nepal. Both organisations had shared "Letter of Intents" for the purpose during Power Summit, 2019 held at Kathmandu, Nepal in November 2019."

The signing of an MOU between two government entities of India and Nepal during these difficult times seeking to increase inter-regional cooperation will definitely help in bolstering the deep relations between both neighbours.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Telegram. Join PSU Watch Channel in your Telegram and stay updated)