Banking News – The Independent Power Producers’ Association, Nepal (IPPAN) and affiliated power companies have provided Rs 13 crore 1 in assistance for the rescue, rehabilitation, and reconstruction of citizens affected by the devastating flood in the Bhote Koshi River. According to IPPAN, the disaster that struck the Bhote Koshi River on Bhadau 10, 2083, destroyed structures of 12 hydropower projects, including 8 operational and 4 under-construction. Due to the flood affecting other projects as well, approximately 431 MW of electricity generation capacity has been disconnected from Nepal Electricity Authority’s central transmission grid.

The flood has damaged structures of hydropower projects and transmission systems built with investments worth billions of rupees. IPPAN expressed sorrow over the loss of engineers, technicians, experts, specialists, and workers in the energy sector, along with physical structures of the projects. Despite suffering massive damage to their own projects and structures, IPPAN had decided to provide financial assistance to the Prime Minister’s Natural Disaster Relief Fund from its emergency committee meeting held on Bhadau 11. Subsequently, IPPAN had called upon affiliated hydropower companies for contributions.

In response to IPPAN’s call, affiliated power developers and companies contributed amounts ranging from Rs 50,000 to Rs 1 crore 65 lakh. The collected amount has been handed over to the Prime Minister’s Natural Disaster Relief Fund. IPPAN Chairman Mohan Kumar Dangi handed over the amount in a single installment to Minister for Energy, Water Resources and Irrigation Biraj Bhakta Shrestha at a program organized at the ministry in Singha Durbar. Representatives from IPPAN-affiliated power developers and companies also handed over cheques and vouchers to Minister Shrestha during the program.

Handing over the amount, Chairman Dangi stated that despite the private sector power projects themselves suffering massive losses, the association considered it its duty to support rescue, rehabilitation, and reconstruction of affected citizens. “Even though private sector power projects have suffered massive losses by being swept away, we have decided to temporarily set aside our own pain and support the rescue, rehabilitation, and reconstruction of citizens in even greater distress,” he said. “It is the private sector’s responsibility to collaborate with the government when the nation faces a crisis. IPPAN and the private energy sector are ready to provide any support needed by the government during such disasters.”

Chairman Dangi stated that this contribution is not merely financial assistance but an expression of the sensitivity of energy entrepreneurs who have lost their own projects, the pain of companies that have lost colleagues and workers, and the humanitarian duty toward disaster-affected citizens.

Receiving the contribution, Minister Shrestha stated that the government is moving forward in collaboration with the private sector for rescue, rehabilitation, and reconstruction efforts following the Bhote Koshi disaster. Noting that the support from IPPAN and affiliated companies, despite suffering massive losses to their own projects, is commendable, Minister Shrestha mentioned that the assistance has boosted the morale of the government’s rescue, rehabilitation, and reconstruction campaign. He stated that the government’s efforts alone would not be sufficient for reconstruction of the disaster-affected areas, and collaboration from all sides, including the private sector, is necessary. Ministry Secretary Sarita Dawadi stated that the assistance received from IPPAN and affiliated companies would make a significant contribution to the government’s reconstruction efforts.