Recently, a Nepalese power company signed an agreement with three Chinese companies to develop hydropower projects in Nepal with a total investment of up to 3 billion U.S. dollars.
The joint venture company is located in the capital of Nepal. The three Chinese companies are respectively Sichuan Investment Group, Chengdu Xingcheng Investment Group and Qingyuan Consulting Company.
Nepal's Butwal Energy Corp. (BPC) joint venture with its Chinese partner will begin with the Marsyangdi Hydroelectric Project in Lower Sonon, western Nepal, which will generate over 100 megawatts of electricity.
According to media reports, the joint venture aims to invest 3 billion U.S. dollars in developing hydropower projects over the next five years and 1,000 megawatts of power for the Nepal Power Grid.