S N Power, a Norweigian business investor and a builder of hydropower projects in budding energy markets, has announced that the company is in the process of building the Upper Tamakoshi Hydropower Project III in Nepal to generate around 880 MW power.
The company gave out the information at a seminar, held at Charikot that discussed the practical and ecological issues related to the project. The company is planning to begin theRs.5 Billion power project work during 2012 and complete the project in the year 2017. Earlier the company has constructed the Khimti hydropower project for the country.
Though the earlier feasibility studies for the Upper Tamakoshi Hydropower Project III portrayed to produce only 600 MW, it is producing around 880 MW now and the generation capacity is expected to grow in the coming months. While the people living in Dolakha and Ramechhap districts agreed to share 10% of the project, nearly 75% of its cost will be paid through loans raised from various banks while the government will be pressed to provide the balance 20% of the anticipated construction costs.
Though the construction of the Upper Tamakoshi Hydropower Project III will help those living from 19 Village Development Councils, it will also move out around 80 families living near the hydropower electricity power project construction site.