Nexus Ventures Receives Approval for Hydro-Power Project in Nepal

International Nexus Ventures has received the approval for its hydro-power project in Nepal. Thus, the company has been rewarded for its faith imposed in this project. The company’s decision towards committing funding for this small hydro-power project stood vindicated following various entrepreneurs approaching the management for tentative proposals towards acquisition.

The firm has agreed towards investing $20 million towards forming a part of the consortium that seeks to leverage Nepal’s topography of steep gradients in providing clean and cheap energy for a country that currently has a power demand in excess of 700 MW while increasing by 10% annually. International Nexus Ventures is very keen on developing renewable energy projects in this region.

Nepal contains 6,000 rivers, small and large, that hail from the Himalayas as well as other mountain ranges in the direction of the Terai plain. It is estimated that Nepal contains latent hydropower potential to the extent of 83,000 MW out of which approximately 42,000 MW has been classified as economically and technically feasible. The company is anticipating that this hydro-power project will reap rich dividends in terms of bringing in profits, which would be significantly higher than estimates.