Himal Press 
KATHMANDU: The Office of the Investment Board Nepal (OIBN) has approved investments in two peaking run-of-river (ROR) projects with a combined capacity of 105.62 MW and a total estimated cost of Rs 21.17 billion.
A meeting of the board chaired by Prime Minister Balendra Shah on Friday approved investment of Rs 10.75 billion for the 58.9 MW Nar Khola Hydropower Project and Rs 10.42 billion for the 46.72 MW Sani Bheri-3 Hydroelectric Project.
A consortium led by Kumari Bank has pledged to provide Rs 9.63 billion for the Nar Khola Hydropower Project in Manang district. The project is being implemented by BG Group Ltd.
The Sani Bheri-3 project, which is based in Rukum West district, is being implemented by Sani Bheri Hydropower Company Pvt Ltd.
The meeting also decided to provide necessary facilitation to the 900 MW Arun-3 Hydropower Project so that it can begin commercial generation by February 2028. Likewise, it decided to facilitate the immediate commencement of construction of the 900 MW Upper Karnali Hydropower Project in accordance with the provisions of its Project Development Agreement.
The meeting also decided to delegate necessary authority to the OIBN Chief Executive Officer to facilitate project implementation, provide services to investors and improve operational efficiency. The board also directed the OIBN to make necessary legal arrangements to advance proposals not solicited by the board through competitive Swiss Challenge procedures, where appropriate.
