The Nepal Electricity Authority (NEA) has exported electricity worth almost Rs 2 billion to India in the first month of the new fiscal year 2079/80.
The state electricity monopoly sold 242.683 million units of electricity worth Rs 1.838 billion to India in the month of Shrawan ending in mid-August to earn around Rs 59.3 million a day on an average.
The NEA had started selling surplus electricity to the Indian Energy Exchange (IEX) on June 2. It first started exporting electricity from the 24-MW Trishuli and 15-MW Devighat hydropower projects. It then started to export 364 MW from June 10 at competitive rates.
The NEA sold electricity worth Rs 3.88 billion to India in the last fiscal year ending in mid-July. A total of 735 MW was added to the national grid in the last fiscal year including solar plants, Upper Tamakoshi Hydropower Project and private sector projects.
It has proposed to sell another 111 MW in the day-ahead market of IEX at competitive rate.
The electricity is sold in the IEX in 96 blocks of 15 minutes each every day.
On April 6, India granted approval to NEA to sell 325 MW of electricity to the Indian market. NEA has received approval to sell 140 MW of electricity from the NEA-owned 144MW Kaligandaki A, 68 MW from the 70MW Middle Marsyangdi, 67 MW from the 69MW Marsyangdi, 51 MW from the 52.4MW Likhu-4 hydropower project.