Chilime Hydropower Company has submitted an investment proposal to the Investment Board Nepal to develop 87MW Seti Nadi-3 (SR-3) and 81MW Budhi Gandaki Prok Hydroelectric Projects.

The Investment Board Nepal said in a statement on Friday that the Chilime has made an investment proposal of Rs19.66 billion for semi-storage type SR-3 and Rs16.45 billion for the run-of-the river type Budhi Gandaki Prok. Nepal Electricity Authority has a majority stake in Chilime.

The SR-3 to be built upstream of West Seti Hydropower Project will be developed in Bajhang district. On August 18, the Investment Board had signed a memorandum of understanding with India’s state-owned NHPC Limited to develop the two projects—West Seti and Seti River (SR6)—joint storage projects totalling 1200MW.

The Budhi Gandaki Prok will be developed in Gorkha district.

“The development of SR-3 will encourage the more independent power producers to develop power projects on the Seti corridor,” said Sushil Bhatta, chief executive officer of the Investment Board. “The development of this project will also make available necessary power for the development of the West Seti and SR-6.”