Nepal Power Exchange Ltd signed a trading agreement with India's Manik Power Ltd stating a non-profit,that it will sell electricity produced by the domestic private sector to India via the Indian energy firm. Nepal Power Exchange Ltd (NPE) is a subsidiary of Independent Power Producers' Association of Nepal (IPPAN), a non-profit,
non-government autonomous organisation and is responsible in encouraging the private sector to work in the area of hydropower in Nepal.
India have signed an agreement to facilitate power trading between the two countries, IPPAN said.
The agreement was signed between Nepal Power Exchange (NPE) Managing Director As Ashish Garg and Manikaran Power Ltd Managing Director Navajeet Singh Kalsi.
Under the agreement, Manikaran Power will invest in 15 per cent of shares belonging to NPE, which is equivalent to NRs 300 million.
According to a report in once the agreement comes into effect, it will pave the way for the NPEL to sell electricity produced by the private sector via Manikaran Power.
