The Joint Venture between BPC and three Chinese Companies named Sichuan Provincial Investment Group Co. Ltd (SCIG), Chengdu Xingcheng Investment Group Co. Ltd. (CXIG) and Qing Yuan Engineering Consulting Co. Ltd. (QYEC) has setup a Joint Venture Company (JVC) and is in the process of acquiring two more hydropower projects in Marsyangdi Corridor. The JVC will develop Lower Manang Marsyangdi Hydroelectric Project (140 MW) of BPC and other two projects in Marsyangdi corridor, (i. e. Upper Marshyangdi -2: 600 MW and Manang Marshyangdi : 282 MW ) as a cascade development model. The status of the two new projects being acquired is as following:
Manang Marsyangdi Hydropower Project (135 MW)
Share purchase transaction based on the SPA signed with Rajratna Energy Holding Pvt. ltd. and local shareholder is at the approval process at the NRB for acquiring 100% of their shares. DoED has issued Generation License (282MW RoR type) for 35 years period from 17 Nov 2018 and connection agreement signed for 144 MW dated Poush 24, 2075. SPA between BPC and Chinese partners are under development. Contractor’s camp and access road improvement at site is continuing. Project has been re-optimized with Peaking RoR type to 135 MW and PPA process ongoing for the same.
Upper Marsynagdi-2 Hydropower Project (600 MW)
Share purchase transaction based on the SPA signed with GMR and local shareholders is approved by NRB and acquiring of 100% of their shares done. Project Development Agreement (PDA) discussions has been started with IBN.