Kathmandu : Nepal and Bangladesh have signed a 40-megawatt power export agreement on Thursday.

The tripartite power agreement was signed in Kathmandu this afternoon in the presence of Energy Minister of Nepal, Deepak Khadka, Environment Minister of Bangladesh,Syeda Rizwana Hasan, and Indian Ambassador to Nepal, Naveen Srivastava.

The historic deal was signed by Chief Executive Office of the Power Trade Corporation NVVN NTPC, India, Renu Narang, Chairman of Bangladesh Power Development Board, (BPDB), Rezaul Karim, and Managing Director of Nepal Electricity Authority, Kulman Ghising.

Even though the agreements were set to be signed twice earlier, it was postponed due to the political unrest in Bangladesh. Nepal will get US 6.40 cents per unit of electricity sold to Bangladesh, according to the agreement.

Even though the agreements were set to be signed twice earlier, it was postponed due to the political unrest in Bangladesh.

The Ministry of Energy reports that two power export agreements have been signed. Nepal and Bangladesh signed one agreement, while another was signed between Nepal, India, and Bangladesh, paving the way for Nepal to transmit its electricity to Bangladesh via India’s transmission lines.

Environment Advisor to the Interim Government of Bangladesh, Syeda Rizwana Hasan came to Nepal on Wednesday. If things go as agreed, Bangladesh will purchase electricity worth Rs 7.39 billion in the span of five years.

Following the tripartite agreement, Minister for Energy, Water Resources and Irrigation Deepak Khadka said the tripartite power agreement between Nepal, India and Bangladesh has been a milestone in the energy sector of Nepal.

Minister Khadka stated that the Nepal government aims to generate 28,500 megawatts of electricity by 2035, with plans to export 15,000 megawatts of it.