Feasibility Stage Tariff:

The Feasibility stage tariff for the Project was determined by NEPRA at US Cents 5.3050/kWh on 30 January 2014.

NEPRA arbitrarily reduced Project construction time from 6 years to 4 years and slashed period costs on a pro-rata basis; resulting in reduction, by NEPRA, in the requested levelized tariff of US Cents 7.2904/kWh.

The Project Company therefore considered it imperative to contest the NEPRA’s determination, and after a prolonged process, NEPRA in its review determination dated 16 October 2014 finally accepted the original 6-years construction period, thus removing a critical and fatal impediment in development and technical viability of the Project by determining a levelized tariff of US Cents 6.1894/kWh.

EPC Stage Tariff:

Based on the executed EPC Contract, indicative financing term sheets, proposals or quotations obtained and on reasonably fair estimates, the Project Company proposed a levelized tariff of US Cents 8.1032/kWh and filed its EPC stage tariff proposal to Central Power Purchasing Agency Guarantee Limited (CPPA-G) on 23 June 2017.

CPPA-G after securing its Board approval forwarded the EPC Stage Tariff application to NEPRA on 10 October 2017.

Pre-admission hearing at NEPRA was held on 07 November 2017 thereafter notice of admission was advertised for public hearing scheduled by NEPRA on 11 January 2018.

The EPC Stage Tariff was determined by NEPRA on 17 May 2018 at a Levelized Tariff of US Cents 7.1167/kWh (US Cents 7.3545/kWh including impact of Special Return on Equity).

The Company filed Motion of Leave for Review (MLR) on 28 May 2018 to address certain concerns in EPC Stage Tariff determination.

Following the tariff hearing on 19 July 2018, NEPRA determination was issued on 11 October 2018, giving a Levelized Tariff of US Cents 7.0653/kWh (US Cents 7.1248/kWh including impact of Special Return on Equity), the lowest levelized EPC Stage tariff amongst similar hydropower projects.