Kathmandu, June 28 -- The 139.5 MW Lower Manang Marsyangdi Hydropower Project obtained its production license in 2018. Its Power Purchase Agreement (PPA) was signed in 2023, according to the Department of Electricity Development. However, the promoter, Butwal Power Company, has not yet been able to manage the investment required for the construction of the project.

Uttar Kumar Shrestha, chief executive officer of the company, stated that financial closure is currently underway in accordance with the approval of the department.

"We will complete the financial closure this year; our permitted timeline is also remaining," he said. Promoters point out that there is a regulatory provision allowing up to five years after receiving a productio...