Project License for Khimti 1

HPL's Main Site at Kirne

HMGN has issued to Himal Power Limited a Project License to build, own, operate and transfer the Khimti I Hydropower Project. The Project License gives HPL the right of uninterrupted flow of the water of the Khimti River to the Project. According to which HMGN shall not issue any other permits for use of water in the catchments area that will impair the flow, specified in the Project License.

Project Agreement with HMGN

His Majesty’s Government of Nepal and Himal Power Limited entered into a Project Agreement concerning Khimti 1 Hydropower Project on 17th of Chaitra 2050 (30th March 1994).

Power Purchase Agreement

Nepal Electricity Authority and Himal Power Limited entered into a Power Purchase Agreement concerning the Khimti 1 Hydropower Project on 17th of Chaitra 2050 (30th March 1994) for a twenty (20) years period commenced on the Commercial Operation Date - 11th July 2000 (Ashad 27, 2057).

Kimti River

Transfer of Interest to NEA

Upon the expiration of the PPA period, HPL will transfer to NEA of a fifty percent (50%) ownership interest in the Project for a nominal consideration of one (1) Rupee. Such ownership interest will be structured as a joint venture between HPL and NEA. At the end of the fifty (50) years period of the Project Licence, HPL shall transfer the Project free of charge to HMGN.

Project Ownership
Khimti I Contorl Room Building and 132kv Terminal Tower		The Project shall be built, owned and operated by HPL in accordance with the terms and conditions of the Project License. At the end of the fifty (50) years period of the Project License, HPL shall transfer the Project free of charge to HMGN.

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