KATHMANDU, May 28: The operation ceremony of the newly installed weir gate of the 216MW Upper Trishuli-1 (UT-1) Hydropower Project was successfully held in Rasuwa district on Thursday.
Ambassador of the Republic of Korea to Nepal, Park Taeyoung, attended the ceremony as the chief guest. The Embassy of the Republic of Korea in Nepal stated that the commissioning of the upgraded weir gate marks a significant milestone in the final phase of construction of the UT-1 Hydropower Project.
Speaking on the occasion, Ambassador Park reaffirmed Korea’s long-standing partnership with Nepal, noting that the Korean government has remained a reliable development partner for the past 52 years, supporting Nepal’s sustainable economic growth and prosperity. He highlighted Korea’s contributions to Nepal’s hydropower sector, including the construction of three hydropower projects and financial support for energy development. He also underscored strong prospects for further cooperation between Nepal and Korea in the energy sector.
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Ambassador Park said the achievement reflects the successful collaboration and dedication of all stakeholders involved, describing UT-1 as a landmark example of long-term energy cooperation between Nepal and Korea.
The Upper Trishuli-1 Hydropower Project is being developed by Nepal Water and Energy Development Company Pvt. Ltd. (NWEDC). The main sponsors include Korea South-East Power Co. (KOEN) and Korea Overseas Infrastructure & Urban Development Corporation (KIND), along with the International Finance Corporation (IFC). It is Nepal’s largest foreign direct investment hydropower project.
The run-of-river project is scheduled for completion by mid-2027. It is financed through a 70 percent debt and 30 percent equity structure. Major international lenders include the International Finance Corporation (IFC), Asian Development Bank (ADB), Asian Infrastructure Investment Bank (AIIB), and the Export–Import Bank of Korea (K-EXIM).
Approximately 250 participants, including government officials, project stakeholders, media personnel, and local residents, attended the ceremony.
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