1

g]kfn ljB't k|flws/0f (g]kfn ;/sf/sf] :jfldTj)

"Zj]t kq"

sf7df8f}+, efb| @)^#

g]kfn ljB't k|flws/0f Zj]tkq – @)^#

2

!= k[i7e"ld

phf{ s'g} klg /fi6«sf] cfly{s ljsfzsf] nflu cfjZos kg]{ d'Vo k"jf{wf/x? dWo]sf] Ps xf] . phf{sf] oyf]lrt ljsf; ljgf /fi6« ;Dd'GgtzLn x'g ;Sb}g . /fi6« lgdf{0fsf] nflu cfjZos kg]{ ljB'lto phf{ pknAw u/fpg lj=;+=@)$@ efb| ! ut] tTsflng ljB't ljefu, ;fgf hn ljB't ljsf; ;ldlt / g]kfn ljB't skf]{/]zgnfO{ Plss/0f u/L g]kfn ljB't k|flws/0fsf] :yfkgf ePsf] xf] . cfk\mgf] :yfkgf aif{df sl/j @ nfv u|fxs ;+Vof, !)# d]ufjf6 hl8t Ifdtf / #* s/f]8sf] cfoaf6 z'? ePsf] g]kfn ljB't k|flws/0f xfn sl/j !# nfv u|fxs;+Vof, ^)) d]ufjf6 hl8t Ifdtf / !$ c/a ?k}of+ eGbf a9L cfosf] l:yltdf cfOk'Ubf;Dd nfdf] km8\sf] dfl/;s]sf] 5 . o;/L ljB'tsf] If]qdf cu|0fL ;+:yfsf] ?kdf :yflkt eO;s]sf] g]kfn laB't k|flws/0fn] jt{dfg cj:yf / efjL sfo{qmdaf/] ;a} ;/f]sf/jfnfnfO{ hfgsf/L u/fpg] p2]Zon] of] Zj]t kq hf/L u/LPsf] 5 .

@= sfo{If]q g]kfn lJfB't k|flws/0f P]g @)$! df Joj:yf eP cg';f/ o;sf] sfo{If]q lgDg cg';f/ /x]sf] 5 . s_ ljB't cfk"lt{ ;DaGwL bLw{sfnLg / cNksfnLg gLlt lgwf{/0f ug{ g]kfn ;/sf/nfO{ l;kmfl/;

ug]{ . v_ k|rlnt sfg'g adf]lhd ljB't pTkfbg, k|;f/0f jf ljt/0f u/L ljB't cfk"lt{ ug]{ . u_ ljB't pTkfbg, k|;f/0f / ljt/0f k|0ffnL tyf tT;DaGwL cGo sfo{sf] of]hgf th{'df ug]{ /

th'{df ePsf] of]hgfsf] sfof{Gjog ug{ cfjZos ljB't pTkfbg s]Gb|, ?kfGt/0f s]Gb|, ljt/0f s]Gb|, k|;f/0f / ljt/0f nfO{g tyf tT;DaGwL ;'ljwfx?sf] lgdf{0f ;+rfng, ;+/If0f / ;Da¢{g ug]{ .

3_ cf}Bf]lus tyf s[lif ljsf; tyf hgtfsf] ;'ljwfsf] nflu cfly{s b[li6n] pko'Qm If]qdf pko'Qm :t/sf] ljB't pTkfbg, k|;f/0f / ljt/0fsf] Joj:yf ug]{ .

ª_ ljB't dx;'n / ljB't;DaGwL cGo ;]jf z'Ns lgwf{/0f ug]{ . r_ ljB't pTkfbg, k|;f/0f / ljt/0f ;DaGwdf cfjZos cg';Gwfg sfo{ ug]{ u/fpg] . 5_ ljB't pTkfbg, k|;f/0f / ljt/0f ;DaGwdf bIf hgzlQm tof/ ug{ pRr tflnd tyf

cWoogsf] k|aGw ug]{ u/fpg] . h_ ljB't pTkfbg, k|;f/0f jf ljt/0f sfo{;+u ;DaGwLt k|fljlws ;Nnfx / k/fdz{ k|bfg ug]{ . #= ;+u7gfTds :j?k

g]kfn ljB't k|flws/0fsf] sfo{ ;~rfngsf nflu * ;blioo ;~rfns ;ldltsf] Joj:yf 5 h;df hn>f]t dGqL cWoIf /xg] Joj:yf 5 . ;~rfns ;ldltdf hn>f]t ;lrj, cy{ ;lrj, hn>f]t lj1, u|fxs ju{sf] k|ltlglw Pj+ pBf]u If]qsf] k|ltlglw ;b:o / sfo{sf/L lgb]{zs ;b:o ;lrj /xG5g\ . b}lgs sfo{ ;~rfngsf nflu ;/sf/n] sfo{sf/L lgb]{zs lgo'Qm ub{5 . g]kfn ljB't k|flws/0fsf] ;+u7gfTds 9f+rf lgDgfg';f/ 5 .

!_ pTkfbg Joj;fo ;d"x @_ k|;f/0f tyf k|0ffnL ;~rfng Joj;fo ;d'x

3

#_ ljt/0f tyf u|fxs ;]jf Joj;fo ;d"x $_ OlGhlgol/Ë ;]jf Joj;fo ;d"x %_ ljB'tLs/0f Joj;fo ;d"x o;sf cltl/Qm of]hgf, cg'udg tyf ;"rgf k|ljlw, cy{, k|zf;g / cfGtl/s n]vf kl/If0f ;+:yfut

c+usf] ?kdf s]lGb|o :t/df /x]sf 5g\ eg] dWo d:of{ËbL hnljB't kl/of]hgf ;d]t ;f]em} sfo{sf/L lgb]{zs cGtu{t /x]sf] 5 .

$= jt{dfg l:ylt

$=! ljB't pTkfbg ;+/rgf

g]kfn ljB't k|flws/0fsf] :jfldTjdf /fli6«o k|;f/0f lu|8 ;+u cfa¢ ePsf 7"nf tyf ;fgf u/L !% j6f ljleGg Ifdtfsf hnljB't pTkfbg s]Gb|x? /x]sf 5g\ eg] # j6f tflko ljB't pTkfbg s]Gb|x? 5g\ . o;sf cltl/Qm /fli6«o k|;f/0f lu|8 ;+u ghf]l8Psf] #) j6f ;fgf hnljB't s]Gb|x? klg /x]sf 5g\ . gLlh If]qsf :jtGq ljB't pTkfbs (IPP) x?sf /fli6«o lu|8df hf]l8Psf] !! j6f hnljB't s]Gb|x? /x]sf 5g\ . g]kfn ljB't k|flws/0f tyf gLlh If]qsf] :jfldTjdf /x]sf ljB't s]Gb|x?sf] hl8t Ifdtf lgDg adf]lhd /x]sf] 5 .

g]=la=k|f= tkm{ hl8t Ifdtf -d]ufjf6_ hnlaB't M $)* tflko ljB't M %%

gLlh If]q tkm{ hnlaB't M !$* s"n hl8t Ifdtf M ^!! /fli6«o k|;f/0f u|L8df hf]l8Psf ljB't s]Gb|x?sf] s'n hl8t Ifdtf ^!! d]ufjf6 /x]tf klg hnljB't s]Gb|x?df ;'Vvf ofddf kfgLsf] dfqf 36\g hfg] x'+bf pTkfbg Ifdtfdf w]/} sdL x'g uO ljB't cfk'lt{df sl7gfO{ kg]{ ub{5 . ut cf=a=sf] ljB'tsf] pRrtd dfu ^)# d]ufjf6 /x]sf] lyof] . ;'Vvf ofddf dfu cfk'lt{ ug{ g;ls clwstd &) d]ufjf6 nf]8 ;]l8Ë ug'{ k/]sf] lyof] .

$=@ k|;f/0f k|0ffnL

ljB't pTkfbg s]Gb|x?af6 pTkflbt laB'tnfO{ ef/ s]Gb|x? ;Dd nuL tNnf] ef]N6]hdf ?kfGt/ u/]/ ljt/0f nfOgåf/f u|fxsnfO{ laB't ;]jf pknAw u/fpg /fli6«o k|;f/0f lu|8sf] ?kdf ^^ s]=le= / !#@ s]=le= ef]N6]hsf k|;f/0f nfOgx? /x]sf 5g\ . /fli6«o k|;f/0f lu|8 k"j{df cgf/dlg b]lv klZrddf dx]Gb|gu/ ;Dd km}lnPsf] 5 . ljB't ?kfGt/0fsf] nflu s'n ## j6f k|;f/0f ;j:6]zgx? /x]sf 5g\ . k|;f/0f nfOg Pj+ ;j:6]zgx?sf] Ifdtf lgDg adf]lhd /x]sf] 5 .

4

!#@ s]=le= k|;f/0f nfOg M !**! ;ls{6 ls=ld= ^^ s]=le= k|;f/0f nfOg M %^! ;ls{6 ls=ld= s'n ;j:6]zg Ifdtf M !)*( Pd=le=P

$=# ljt/0f k|0ffnL tyf u|fxs ;]jf

g]kfn ljB't k|flws/0fn] xfn;Dd b]zsf &@ lhNnfdf laB't ;]jf pknAw u/fPsf] 5 eg] u|fxs ;+Vof !# nfv /x]sf] 5 . s"n u|fxs ;+Vofsf] (^ k|ltzt u|fx:y u|fxs, !=* k|ltzt cf}Bf]lus u|fxs / @=@ k|ltzt cGo u|fxsx? /x]sf 5g\ . af+sL /x]sf # lhNnfx? dWo] d'u' / x'Dnfdf cf=a= @)^$.^% df ;DkGg x'g] ul/ ;fgf hnljB't cfof]hgfx? lgdf{0ffwLg 5g\ eg] ;f]n'v'Da'df 5'6[} ;fj{hlgs sDkgLaf6 ljB't ;]jf pknAw eO/x]sf] 5 .

$=$ ljB't vl/b ;Demf}tf $=$=! xfn :jtGq ljB't pTkfbs (IPPs) x?sf lgDg hnljB't s]Gb|x?af6 g]kfn ljB't

k|flws/0fn] ljB't vl/b ul//x]sf] 5 M

qm=;+= hnljB't s]Gb| hl8t Ifdtf -d]=jf=_ cf}ift vl/b b/ ?=-@)^@÷^#_ != lvDtL ^)=) %=((-US $ =)*)**_ @= ef]6]sf]zL #^=) ^=))-US $ =)*@)$*@_ #= lemd?s !@=# $=!@ $= cfFlwvf]nf %=! @=(* %= lrlnd] @)=) %=(( ^= OGb|fjlt &=% $=&* &= lkn'jfvf]nf #=) $=$$ *= ;'gsf]zL ;fgf] @=^ $=$$ (= rfs'vf]nf !=% $=$$ !)= /}/fË )=% $=$$ !!= ;fË] )=!*# $=$$

ljB't v/Lb ;Demf}tf -PPA_ sf nflu $$ -!%^,$)( ls=jf=_ j6f cfj]bgx? k|fKt ePsf] 5 . ;f] dWo] & j6f cfof]hgfx? -(,(&( ls=jf=_ sf] k|fljlws sld6Laf6 k'g/fjnf]sg u/L Connection Agreement sf] nflu ;DalGwt Joj;fodf k7fOPsf]df l/8L–@$)) ls=jf= / ;]tL–II–(&( ls=jf= sf] Connection Agreement ;DkGg eO{ PPA ;DkGg x'g] qmddf 5 .

afFsL dWo] !! j6f cfof]hgfx? -$&,^*@ ls=jf=_ sf] ;DefJotf cWoog k|ltj]bg k'g/fjnf]sg ug]{ sfo{ e} /x]sf] 5 . & j6f cfof]hgfx? -%),$&! ls=jf=_ sf] ;DefJotf cWoog k|ltj]bg k'g/fjnf]sg ug]{ sfo{ lgs6 eljiodf g} k|f/De ul/g] 5 . cGo & j6f cfof]hgfx? -@),@*) ls=jf=_ sf] cfof]hgf k|j4{sx?;+u ;Dks{ x'g g;s]sf]n] PPA ;DaGwL sf/jfxL cuf8L a9fpg ;lsPsf] 5}g . o; cltl/Qm !@ j6f cfof]hgfx? -@&,((& ls=jf=_ sf] sf/jfxL k|;f/0f ;d:ofsf sf/0f clu a9fpg ;lsPsf] 5}g .

$=$=@ ljB't v/Lb ;Demf}tf, PPA sf] nflu sf/jfxLsf] k|lqmof

5

lghL If]qsf cfof]hgfx?af6 ljB't vl/b ;Demf}tf -PPA) sf k|fKt lgj]bgx?sf] lgDgfg';f/ sf/jfxL x'g] k|fawfg ul/Psf] 5 . cfj]bgx?sf] btf{ tyf ;DefJotf cWoog k|ltj]bgsf] k"0f{tf / Consistency sf]

;DaGwdf ljefuaf6 ?h' ug]{ . !)) lsnf]jf6 b]lv %))) lsnf]jf6 ;Ddsf hn ljB't cfof]hgfx?af6 pTkflbg ljB't

g]kfn ljB't k|flws/0fn] tf]s]sf] b/ /]6df vl/b ug]{ . % d]ufjf6 eGbf a9L Ifdtfsf cfof]hgfx?sf] xsdf k|a4{s sDkgLsf] tkm{af6

k|flws/0fdf k|:t'tLs/0f ug]{ Joj:yf ug]{ / k|fKt plrt k|ltlqmof / ;'emfjx? ;Daf]wg x'g] u/L ;DefJotf cWoog k|ltj]bg kl/dfh{g u/fpg] .

k|flws/0fsf ;DalGwt lj1x?sf] k|fljlws sld6L u7g u/L cfof]hgf ;DefJotf cWoog k|ltj]bgsf] 3lge't ?kdf l/Eo" u/fO{ cfof]hgf ;DefJo eP gePsf] olsg ug]{ ;fy} k|flws/0fsf cfjZostf cg's'n cfof]hgfsf] l8hfOg gePsf] eP ;f] u/fpg] . cfof]hgf ;DaGwL hf]lvdx?sf] Go"lgs/0f u/L l8hfOg kl/dfh{g ug{ cfjZos /fo ;'emfj k|a4{s sDkgLnfO{ pknAw u/fpg] .

g]kfn ljB't k|flws/0fsf] k|0ffnLdf ljB't k|jfx x'g ;Sg] cfof]hgfx?af6 k|fljlws sld6Lsf] sfo{ ;DkGg eO{ ;s]kl5 ;f] sld6Lsf] k|ltj]bg ;lxtsf] cfwf/df Connection Agreement sf] nflu ;DalGwt Joj;fodf cg'/f]w u/L k7fpg] .

Connection Agreement k|fKt ePkl5 PPA d:of}bf tof/L tyf jftf{ sld6Laf6 cfj]bs sDkgL;Fu jftf{ u/L k|flws/0fsf gLlt cg'?k PPA sf] d:of}bf tof/ kZrft ljB't vl/b ljqmL ;Demf}tf x'g] .

t/ ;fd'bflos ljB'tLs/0fsf] If]q leq kg]{ ;fd'bflos u|fxsx?nfO{ ljB't a]Rg] cfwf/df aGg] cfof]hgfx?af6 pTkflbt ljB't v/Lbsf] nflu PPA gug]{ .

dfyL pNn]vLt sfo{ ;DkGg ug{sf] nflu lgDgfg';f/ z'Ns lnP/ sf/jfxL ug]{ Joj:yf /x]sf] 5 M

! d]ufjf6;Dd Ifdtfsf] cfof]hgf – ?= &%,))).– ! b]lv % d]ufjf6 Ifdtf;Ddsf] cfof]hgf – ?= !,%),))).– % b]lv !) d]ufjf6 Ifdtf;Ddsf] cfof]hgf – ?= #,)),))).– !) d]ufjf6 eGbf dflysf] cfof]hgf – ?= $,%),))).–

$=% ef/t;+u ljB't cfbfg÷k|bfg

@! j6f :yfgx?af6 ljleGg ef]N6]h :t/df ef/t;+u ljB't cfbfg k|bfg ug]{ ;'ljwf /x]sf] 5 . xfn s]xL :yfgx?af6 dfq ljB't cfbfg k|bfg eO/x]sf] 5 . ut cf=a= @)^@.^# df ef/taf6 @^^ u]ufjf6 306f ljB't pmhf{ cfoft ul/Psf] lyof] eg] ef/t tkm{ !)! u]ufjf6 306f lgof{t ul/Psf] lyof] .

$=^ ljlQo cj:yf g]kfn ljB't k|flws/0fsf] xfnsf] ljlQo cj:yf pT;fxhgs 5}g . cf=a= )$*.)$( ;Dd 3f6fdf ;~rflnt o; k|flws/0fsf] ljB't dxz'ndf ;d;fdlos ;dfof]hg nufot cGo If]qdf ul/Psf ;'wf/x?sf] kmn:j?k cf=a= )$(.%) b]lv )%^.%& ;Dd gfkmfdf ;~rfng ePsf] lyof] . t/ ljB't cfk'lt{sf] nfutsf] t'ngfdf dxFuf] ljB't vl/b b/, ;/sf/n] tf]s]sf] pRr

6

Jofh b/, pRr r'xfj6 k|ltzt Pj+ ljut kfFr aif{ b]lv ljB't dxz'ndf s'g} ;dfof]hg x'g g;s]sf] cflb sf/0fx?n] ubf{ cfo sd x'g uO{ ljut kf+r aif{ b]lv 3f6f ;xFb} cfPsf] 5 . ut cf=j=@)^@.)^# df ;+:yfn] ?= @ c/a $& s/f]8 3f6f Joxf]g'{ kg]{ cg'dfg 5 . ut % aif{x?sf] cfo Joosf] l:ylt lgDg adf]lhd b]lvG5 M

$=^=! cfosf] l:ylt @)^@.^# @)^!.^@ @)^).^! @)%(.^) @)%*.%(

ljB't ljqmL -u]ufjf6 306f_ @)^^=@& !(!*=$ !&(%=@ !^(^=* !%#$=#

ljB't cfo -?= !) nfvdf_ !#$!^=# !@^)%=@ !!*&$=& !!)!@=^ ($&^=@ ljljw cfo -?= !) nfvdf_ %(^=% ^%(=! ^&!=$ %!@=! $%(=^ s"n cfDbfgL -?= !) nfvdf_ !$)!@=( !#@^$=# !@%$^=! !!%@%=! ((#%=*

ut cf=a= @)^@.^# df s"n cfDbfgL !$ c/a ! s/f]8 x'g] cg'dfg 5 . h;df (% k|ltzt cfDbfgL laB't ljqmLaf6 / af+sL % k|ltzt ljljwaf6 k|fKt x'g] cg'dfg 5 .

$=^=@ ;+rfng ;+ef/ vr{ ut cf=a= @)^@.^# sf] s"n cfDbfgL !$ c/a ! s/f]8 dWo] ;+rfng ;+ef/df ?= !@ c/a ** s/f]8 vr{ x'g] cg'dfg 5 h'g cfosf] sl/j (! k|ltzt x'g cfpF5 . Aofh cl3sf] ;+rfng gfkmf ? ! c/a !# s/f]8 x'g] cg'dfg eP tfklg pQm /sd ;/sf/nfO{ ltg'{ kg]{ C0fsf] Jofh # ca{ @* s/f]8sf] bfFhf]df Go"g x'g uO{ @ ca{ $& s/f]8 s"n 3f6f x'g hfg] cg'dfg 5 . ut % aif{sf] Jofh ;lxtsf] s"n vr{x?sf] gfkmf gf]S;fg / af+8km+f8sf] l:ylt lgDg k|sf/ /x]sf] 5 .

-s_ gfkmf gf]S;fg -?= bz nfvdf_ ljj/0f @)^@.^# @)^!.^@ @)^).^! @)%(.^) @)%*.%( v"b gfkmf÷gf]S;fg - @$&# - !#!# - !&^) - !(%$ - *^!

cf=a=@)%^÷%& df g]kfn ljB't k|flws/0f ?= !* s/f]8 %) nfv gfkmfdf /x]sf]] lyof] . -v_ Joo ef/ -k|ltzt_ ljj/0f @)^@.^# @)^!.^@ @)^).^! @)%(.^) @)%*.%( sd{rf/L vr{ 11 !) !) !! !@ ;+rfng ;+ef/ 9 ( * * * ljB't vl/b 41 $) $) ## $@ x|f; vr{ 10 !@ !@ !# !# /f]oN6L 5 ^ $ % % cGo 3 # $ ^ & Jofh 20 @) @@ @$ !#

s"n vr{sf] @) k|ltzt ef/ af]s]sf] sd{rf/L vr{ / ;+rfng ;+ef/ vr{df lgoGq0f ug{ g]kfn ljB't k|flws/0f k|oTglzn 5 . k|flws/0fsf] lgoGq0f eGbf aflx/sf] vr{x?df sdL

7

Nofpg ljB't If]qdf x'g] nufgL ;DjGwL] gLltdf ;'wf/ tyf sfo{z}nLdf kl/jt{g ug{ cfjZos 5 .

vr{df ePsf] jflif{s a[l4nfO{ b[li6ut ubf{ ljB't vl/b, /f]oN6L tyf C0fsf] Jofh, nfut j[l4sf] k|d'v sf/stTjsf] ?kdf /x]sf] b]lvG5 . jflif{s vr{sf] cf}ift j[l4b/sf] lx;fjn] kl5Nnf % jif{df sd{rf/L vr{ ^ k|ltztn], ;+rfng ;+ef/ vr{ !# k|ltztn] j[l4 ePsf]5 eg] /f]oN6L, ljB't vl/bb/ tyf Jofh qmdzM !!, ( / @$ k|ltztn] a9]sf] b]lvG5 .

$=^=# ljB't ljqmLsf] af+8kmf+8 ljut % aif{df ljB't ljqmL cf}ift ^=! k|ltztn] j[l4 ePsf] 5 eg] ljqmL cfDbfgL cf}ift &=! k|ltztn] a9]sf] 5 . cf=j= @)^@.^# sf] s"n ljqmLdf u|fxs jlu{s/0f cg';f/ vkt / ljqmL cfosf] l:ylt lgDg adf]lhd /x]sf] 5 M

u|fxs ju{ vkt%

-s'nvktsf]_ ljqmL cfo% -s'ncfosf]_

u|fx:Yo 39=21 38=28 cf}Bf]lus 38=88 36=12 Jofkfl/s 5=97 8=12 cGo 11=05 13=44 ef/t ljqmL 4=89 4=04

$=^=$ ljB't ljqmLsf] cf}ift nfut / cf}ift ljqmL cfo

cf}ift cfo / ljqmL nfutsf] l:ylt / o;af6 k|lt o'lg6 Joxf]g'{ k/]sf] 3f6fsf] ljj/0f lgDg adf]lhd /x]sf] 5 M ljj/0f @)^@.^# @)^!.^@ @)^).^! @)%(.^) @)%*.%(cf}ift cfo ?= -l/j]6 ;lxt_ 6=49 6=57 6=61 6=48 6=17 ljqmL nfut,?= 7=82 7=38 7=62 7=32 7=26 k|lt o'lg6 v"b gfkmf÷gf]S;fg ?= -ljljw cfDbfgL afx]s_

-1=33_ -0=81_ -1=01_ -0=84_ -1=09_

$=& >f]t, ;fwgsf] cj:yf

ljB't ;]jf pknAw u/fpg Joj:yf ul/Psf ef}lts ;+/rgfx? h:t} ljB't u[xx?, k|;f/0f k|0ffnL, ljt/0f k|0ffnL, sfof{no ejgx? tyf cGo ;DklQx? u/L g]kfn ljB't k|flws/0fsf] s"n ;DklQ sl/j ^@ c/a $@ s/f]8 ?k}of+ (Revalued – Net) /x]sf] 5 . k|flws/0f ;+u ljleGg lsl;dsf s"n &&( j6f ;jf/L ;fwgx? /x]sf 5g\ h; dWo] !) j6f ;jf/L ;fwgx? cGo lgsfosf] k|of]udf /x]sf 5g\ . cGo lgsfodf k|of]udf /x]sf ;jf/L ;fwgx?df $ j6f ;jf/L ;fwg ;"/Iff lgsfodf, % j6f hn>f]t dGqfnodf / ! j6f clVtof/ b'?kof]u cg';Gwfg cfof]udf 5g\ .

$=* hg;fwgsf] cj:yf

8

s"n l:js[t b/jGbL !)#!$ /x]sf]df xfn &*#@ :YffoL, &)) c:yfoL÷s/f/ / !))* Hofnfbf/L u/L hDdf (%$) hgf sfo{/t /x]sf 5g\ . ljut s]xL aif{ otf g]kfn ljB't k|flws/0fsf] sfo{ If]q a9b} uO{/x] klg sfo{/t sd{rf/L] ;+Vofdf j[l¢ ePsf] 5}g . ljut % aif{df sfo{/t sd{rf/Lsf] ;+Vof tn b]vfOP cg';f/ 5 .

%= ljB't cfk'lt{sf] cj:yf

ut aif{b]lv ljB't dfu / cfk'lt{df c;Gt'ng ePsf] sf/0f g]kfn ljB't k|flws/0f cfk'lt{ Joj:yfsf] nflu nf]8 ;]l8Ë ug{ jfWo /x]sf] 5 . xfn sflnu08sL 'P' sf] Pp6f d]lzg lgoldt dd{tsf nflu efb| dlxgfsf] t];|f] ;ftfb]lv sl/j %) lbg aGb ul/g] ePsf]n] $* d]=jf=ljB't pTkfbg sd x'g] tyf s'n]vfgL hnfzosf] kfgL ;+ro ug{ yk $% d]=jf= u/L sl/j (# d]=jf= a/fj/sf] ljB't s6f}lt ul/g]5 . o;sf/0fn] k|To]s u|fxssf] efb|sf] t];|f] ;ftfb]lv ;ftfsf] Ps lbg a]n'sL & ah] b]lv (=#) ;Dd ;f9] b'O{ 306f ljB't s6f}tL x'g]5 . s'n]vfgL hnfzodf hn:t/ !%#) ld6/ x'g' kg]{df xfnsf] hn:t/ j[l¢qmd x]bf{ !%!) dL6/ k'Ug] cg'dfg 5 . o:tf] cj:yf /x]df @)^# kf}ifdf b}lgs ;ft nfv o"lg6, df3df rf}w nfv o"lg6 / kmfNu'gdf c7f/ nfv o"lg6 gk'u x'g] cg'dfg 5 . kmn:j?k kf}if dlxgfdf Ps u|fxsnfO{ b}lgs # 306f, df3df b}lgs % 306f, kmfNu'gdf b}lgs ( 306f / r}qdf b}lgs $ 306f ;Dd ljB't s6f}lt ug'{kg]{ cg'dfg 5 . t/ ef/taf6 %) d]=jf= yk ljB't cfoft ug{ ;s]df ;f] ljB't s6f}lt df3df # 306f kmfNu'gdf $ 306f / r}qdf ! 306f dfq x'g] cg'dfg 5 . o;sf] cltl/Qm x]6f}+8f, lj/u~h ^^ s]=le= k|;f/0f nfOg Ifdtfsf] sf/0fn] lj/u~h If]qdf clxn] klg /flt @–# 306f ljB't s6f}lt ug]{ ul/Psf] 5 . s'n]vfgL hnfzodf kfgL ;+ro ug{ s'n]vfgL ljB't s]Gb| aGb ul/Pkl5 lj/u~h If]qdf lbgsf] ;dodf klg @–# 306f yk ljB't s6f}lt x'g]5 . lgdf{0flwg kyn}of–k/jfgLk'/ !#@ s]=le= k|;f/0f nfO{g olx df3 ;Dddf lgdf{0f ;DkGg eP kl5 s'n]vfgL hnljB't s]Gb| aGb ul/P klg lj/u~h If]qdf dfly pNn]lvt lbg tyf /ft b'a}sf] ljB't s6f}lt x6\g] 5 .

^= ;d:of / r'gf}ltx?

Psflt/ ljB'tsf] a9\bf] dfunfO{ cfk"lt{ ug{ ljB't cfof]hgfx?sf]] lgdf{0f ug{ cfjZos ;fwg / >f]t h'6fpg k|d'v r'gf}ltsf] ?kdf /x]sf] 5 eg] csf]{ lt/ a9\bf] laB't dfunfO{ ;:tf] / ;j{z'ne ?kdf k'/f ug{' kg]{ cfjZostf csf]{ r'gf}lts]f ?kdf /x]sf] 5 . g]kfn ljB't k|flws/0f ;dIf k|d'v ?kdf lgDg ;d:ofx? / r'gf}tLx? /x]sf 5g\ M

^=! dfu / cfk'lt{sf] c;Gt'ng

cfly{s aif{ l:js[t b/aGbL :yfoL c:yfoL÷s/f/ ÷DofbL

Hofnfbf/L hDdf sfo{/t

@)%*÷%( !))&# &%$$ !)(% !!%! (&()

@)%(÷^) !))&@ &$!# !)&) !#&& (*^)

@)^)÷^! !))&# &$)) (#) !#$# (^&#

@)^!÷^@ !)#!& &!(( &$( !!!( (&&(

@)^@÷^# !)#!$ &*#@ &)) !))* (%$)

9

cfufld lbgx?df ljB't dfusf] cfk"lt{ ug]{ ;DaGwdf g]kfn ljB't k|flws/0fsf nflu r'gf}lt /xg] 5 . gofF pTkfbg s]Gb|x?sf] lgdf{0fsf] cefjdf a9\bf] dfu k"/f ug{ ;lsg] cj:yf /xg] 5}g . g]kfn ljB't k|flws/0fn] k|If]lkt u/]sf] % aif{sf] ljB't dfu, Ifdtf / cfk'lt{sf] l:ylt tn lbPsf] 5 .

tflnsf -s_ M ljB't phf{ (GWh) @))^÷)& @))&÷)* @))*÷)( @))(÷!) @)!)÷!!

dfu @*(&=@ #!#^=( #$@*=# #^(*=^ $)%^=^ pknAw hnljB't #!^@=^ #%*)=& #^^&=& #(&@=@ $^#%=* hnljB't pTkfbg @&%*=* #)!*=% #@!@=* #$*)=$ #*^% tflko ljB't pTkfbg !% !@=& $%=( $#=! $)=$ cfoft !!*=^ !)#=^ !%&=* !%^=! !#^=& hnljB't art -aiff{ofddf_ $)#=( %^@=@ $%% $(!=& &&)=* Go"g ljB't phf -;'Vvfofddf_ $=( @ !!=( !(=! !$=%

tflnsf -v_ M ;'Vvfofdsf] dfu-cfk'lt{ (MW) @))^÷)& @))&÷)* @))*÷)( @))(÷!) @)!)÷!!

s'n hnljB't Ifdtf $%@=@ %@$=& %@$=& %#$=& ^!!=* tflko ljB't Ifdtf $(=) $(=) $(=) $(=) $( cfoft %)=) %)=) %)=) %)=) %) s'n ljB't Ifdtf %%!=@ ^@#=& ^@#=& ^##=& &!)=* ;'Vvfofdsf] pRrtd dfu ^!&=& ^^*=& &#*=& &(^=( *^%=*

art÷Go"g —^^=% —$%=) —!!% —!^#=@ —!%% gf]6 M != Spinning Reserve sf] cfjZostf ;dfj]z gu/LPsf] @= ;'Vvf df};d df cfwfl/t bzf}+ of]hgfdf g]kfn ljB't k|flws/0fn] !)) d]=jf= / lghL If]qaf6 @!$ d]=jf= u/L hDdf #!$ d]=jf= Ifdtf yk ug]{ nIo /x]sf]df ljleGg sf/0fx?n] cfof]hgfx? ;DkGg x'g ;s]g . dWod:ofËbL -&) d]=jf=_ sf] lgdf{0f !! cf}+ of]hgfsf] klxnf] aif{df ;DkGg x'g] 5 eg] s'n]vfgL t]>f] -!$ d]=jf=_ / rd]nLof -#) d]=jf=_ bzf} of]hgfsf] cGtdf z'? ePsf] 5 . o; cjlwdf gLlh If]qsf] k|If]lkt @!$ d]ufjf6 dWo] #%=@* d]ufjf6 ;DkGg ePsf] 5 eg] yk $=$ d]ufjf6 ;DkGg x'g] cg'dfg ul/Psf] 5 .

^=@ k|;f/0f ;d:of ^=@=! cfGtl/s

/fli6«o k|;f/0f lu|8sf] x]6f}8f–jb{3f6 !#@ s]=eL= k|;f/0f nfO{g v08sf] Ifdtf sd ePsf] sf/0f ljB't k|jfxdf sl7gfO{ ePsf]]5 . ljB't vkt x'g] ef/ s]Gb|x? d"Votof sf7df08f}, lj/u+h / lj/f6gu/ If]qx? /x]sf]n] pTkflbt ljB'tsf] 7"nf] c+z log} If]qx?df k|jfx x'G5 . To; If]qsf] cGo k|;f/0f nfO{gdf kmN6 cfO{ l6«k x'bf 7"nf] Ifdtfsf ljB't pTkfbg s]Gb|x? h:t} sfnLu08sL Pj+ d:of{ËbL jf6 pTkflbt k"/} ljB't x]6f}8f–jb{3f6 eP/ oL If]qx?df

10

k|jfx x'g' kg]{ ePsf]n] pQm k|;f/0f nfO{g Bottleneck sf] ?kdf b]lvPsf] 5 . j'6jn b]lv b'xjL tyf cgf/dgL ;Ddsf] k|;f/0f nfO{g Hofb} nfdf] /x]sf] / k"lj{ If]qdf s'g} 7"nf hn ljB't s]Gb|x? gePsf]n] To; If]qsf] k"/} ljB't dfFu cfk'lt{ ug{ klZrd If]qdf /x]sf hn ljB't s]Gb|x?jf6 ljB't k|jfx ug{' kbf{ To; If]qdf Go"g ef]N6]h x'g] u/]sf]n] kfgL ePsf] cj:yfdf klg klZrd If]qsf] hn ljB't s]Gb|x?sf] kfgL v]/ kmfNg' k/]sf] 5 .

^=@=@ g]kfn–ef/t ljB't cfbfg k|bfgdf k|;f/0f ;d:of g]kfn / ef/t ljr xfn !#@ s]=le=df u08s / b'xjLjf6 sl/j %) d]ufjf6 ljB"t cfbfg k|bfg e} /x]sf] 5 . ljB't cfbfg–k|bfgsf] of] l;df !%) d]ufjf6 ug{ lj=;+= @)%^ df j'6jn–cfgGbgu/, k/jfgLk'/–df]ltxf/L / 9Ns]jf/–;Ltfd9L !#@ s]=eL= k|;f/0f nfO{g lgdf{0f ug'{ kg]{ elg klxrfg ul/Psf] ePtf klg o; ljifodf b'O{ b]z ljr 7f]; lg0f{o x'g g;Sbf cf–cfˆgf] If]qdf lgdf{0f ug'{ kg]{ k|;f/0f nfO{g lgdf{0f x'g ;s]sf] 5}g .

^=@=# jftfj/0f cWoogsf] l:js[lt jftfj/0fLo k|efj d'NofÍg k|ltj]bg l:js[tL x'gsf] nlfu lgwf{l/t k|s[of k'/f ug{ nfdf] ;do -Go"gtd !=% aif{_ nfUg] u/]sf]n] cfof]hgf sfof{Gjogdf l9nf] x'g] u/]sf] 5 .

^=@=$ Right of way k|;f/0f nfOgsf] Right of way df kg]{ hUuf afkt lbOg] Ifltk"lt{ lgwf{l/t d'Nosf] !)

k|ltzt lbg] u/LPsf]df clwsf+z hUuf wlgx?af6 ljjfb e}/xg] x'gfn] cfof]hgfsf] sfof{Gjogdf l9nfO x'g] u/]sf] 5 .

^=# ljB't r'xfj6 g]kfn ljB't k|flws/0fsf] ljBdfg ;d:ofx? dWo] ljB't r'xfj6 k|d'v ;d:ofsf] ?kdf /x]sf] 5 . g]kfn ljB't k|flws/0fsf] ljB't r'xfj6 k|ltzt :yfkgfsf] z'?sf] aif{x?sf] bfFhf]df sdL cfPtf klg cfzf u/] h:tf] ;kmntf k|fKt ug{ ;lsPsf] 5}g . ut cf=j= @)^@÷^# sf] r'xfj6 k|ltzt @$=& /x]sf] 5 . pTkfbg tyf k|;f/0f k|0ffnLsf] ;+o'Qm r'xfj6 ^ k|ltzt /x]sf] b]lvG5 eg] afFls ljt/0f k|0ffnLdf /x]sf] b]lvG5 .

cf=j= r"xfj^ k|ltzt cf=j= r"xfj^ k|ltzt

2042÷043 29=00 2053÷054 24=92 2043÷044 28=40 2054÷055 23=40 2044÷045 24=90 2055÷056 22=90 2045÷046 25=00 2056÷057 23=90 2046÷047 28=00 2057÷058 23=60 2047÷048 25=00 2058÷059 24=56 2048÷049 23=70 2059÷060 23=66 2049÷050 25=20 2060÷061 23=01 2050÷051 24=90 2061÷062 24=83 2051÷052 25=06 2062.063 24=70 2052÷053 24=61

11

ljt/0f k|0ffnLdf r'xfj6 k|ltzt a9L x'g'sf lgDg d'Vo sf/0fx? /x]sf 5g\ M -!_ k|fljlws r'xfj6

## s]=le=, !! s]=le= tyf $)) ef]N6sf lat/0f nfOg cTolws nfdf] x'g' . lat/0f nfOgdf ;fgf ;fOhsf s08S6/ k|of]u eO{ cf]e/ nf]8 x'g' . lat/0f 6«fG;km/d/x? pko"Qm ;fOh Pj+ nf]8 ;]06/df h8fg gx'g' . nfdf l;+un km]h lat/0f nfOg lgdf{0f ul/g' . lat/0f k|0ffnLdf kfj/ kmfo\S6/ sd x'g' . lat/0f 6«fG;km/d/x?df km]h Aofn]G; gx'g' .

-@_ ck|fljlws r'xfj6 zfGtL ;'/Iffsf] sf/0fn] u|fld0f O{nfsfx?df lgu/fgLsf] cefjdf x'ls+u tyf ld6/

lauf/L ljB't rf]/L a9]sf] . zfGtL ;'/Iffsf] sf/0f sl/j Ps nfv u|fxsx?sf] ld6/ l/l8Ë x'g g;s]sf] . lgof]lht unt ld6/ l/l8Ë tyf ljlnË .

ljB't r"xfj6 lgoGq0fdf lgDg ;d:ofx? laBdfg /x]sf 5g\ M

k|0ffnL ;'b[l9s/0fsf] nflu cfjZostf cg";f/ nufgLsf] Joj:yf x'g g;Sg' . nfOg la:tf/ tyf u|fld0f laB'tLs/0fdf k"+hL cefjsf] sf/0fn] :t/Lo lat/0f nfOg

lgdf{0f ug{ g;lsg' . u"n]/Lofdf cgflws[t ?kdf # yfg !)) s]=le=P= / ! yfg %)) s]=le=P= sf]

6«fG;km/d/ h8fg u/L lagf ld6/ laB'tLs/0f ul/g' . sltko ;'/Iff lgsfox?df ld6/ h8fg gu/L ljB't k|of]u ul/g' . w]/} 7fpFdf ld6/ l/l8Ë tyf ljlnË ug]{ sd{rf/LnfO{ ;'/Iffsf] k|Tofe'lt gx'g' lgof]lht unt ld6/ l/l8Ë tyf ljlnËsf] cg'udg ;+oGq sdhf]/ /xg' .

^=$ :jtGq ljB't pTkfbs, IPP sf] ljB't k|;f/0f gLlh If]qsf ;fgf hnljB't cfof]hgf ljsf; stf{n] PPA sf nflu k]z u/]sf k|:tfjx?df pTkfbLt ljB't /fli6«o lu|8 ;Dd k|;f/0f ug]{ cWoog ;dfj]z x'g] gu/]sf] n] ;f] ;d:ofsf] ;dfwfg vf]Hg nfdf] ;do nfUg] u/]sf] 5 . k|;f/0f sf/0fn] xfn lgDg sl/8f]/df yk PPA ug{ g;lsg] cj:yf /x]sf] 5 .

;'Gfsf]zL sl/8f]/ d]rL sl/8f]/ 3/fg–wGs'6f ltlt{/] sl/8f]/ lqz'nL–lrlnd] sl/8f]/ kf]v/f–DofUbL tftf]kfgL sl/8f]/ nDh'Ë sl/8f]/

^=% ljlQo cj:yf

12

ljlQo cj:yf sdhf]/ x'gsf k|d'v sf/0f x? lgDg 5g\ M ^=%=! ljB't vl/b

vl/b nfutsf] bfFhf]df cf}ift ljqmL b/ sd ePsf]n] k|lt o'lg6 ljlqmdf cf}ift ?= @.*# sf] b/n] 3f6f Joxf]g{' k/]sf] 5 . of] 3f6f lxdfn kfj/ lnld6]8, ef]6]sf]zL kfj/ sDkgL tyf lrlnd] hnljB't sDkgLsf] xsdf qmdzM ?= #.!#, #.@& / #.@$ /x]sf] 5 . ef/t af6 cfoft u/L lalqm x'g] ljB'tdf klg k|lto"lg6 sl/a ?= @.^) sf] 3f6f /x]sf] 5 . csf]{ tkm{ 'n]p of lt/' sf] zt{sf] sf/0f jiff{tsf] ;dodf cfkm\gf pTkfbg s]Gb|x?nfO Ifdtf eGbf sddf ;~rfng u/]/ eP klg gLlh If]qaf6 ljB't vl/b ug'{ k/]sf]n] cfk\mgf pTkfbg sd ug{ afWo eO{ pTkfbg nfutdf j[l4 x'g uPsf]5 . ut aif{ lxdfn kfj/ lnld6]8, ef]6]sf]zL kfj/ sDkgL tyf lrlnd] hnljB't sDkgLaf6 vl/b ul/Psf] ljB'tdf dfq ?=! c/j &% s/f]8 g]=lj=k|f=n] 3f6f a]xf]g'{ k/]sf] tYofÍ /x]sf] 5 .

^=%=@ C0fsf] Jofh s"n vr{sf] sl/j @) k|ltztsf] c+z /x]sf] Jofh vr{ csf]{ ;d:ofsf] ?kdf /x]sf] 5 . g]kfn ;/sf/ dfkm{t k|fKt x'g] a}b]lzs C0f tyf cg'bfg ;d]tdf ;/sf/n] !)=@% k|ltzt Jofh lnO/fv]sf]df k|flws/0fn] & k|ltzt Aofhb/ sfod ug{ u/]sf] k|of;df xfn} * k|ltzt sfod ePsf] 5 .

^=%=# cg'bfgaf6 lgld{t cfof]hgf cg'bfgdf lgdf{0f ePsf cfof]hgfx? l;ldt k|ltZkwf{sf] sf/0fn] w]/} dxËf] x'g] ePsf] / ;f] sf] klg ;+jf / Aofh ;/sf/nfO{ ltg'{ kg]{ x'gfn] ljB't ljlqm nfutdf k|lts'n c;/ k/]sf] 5 .

^=%=$ ljB't /f]oN6L ljB't P]g @)$( cg';f/ ljB't pTkfbgdf Generation Point sf] ljlqm d'Nodf /f]oN6L nfUg] Joj:yf /x]sf] 5 . IPP x?n] ;f]lx Joj:yf cg';f/ Generation Point s} ljqmL d'Nodf /f]oN6L ltl//x]sf] 5 eg] g]kfn ljB't k|flws/0fn] u|fxsnfO{ ljqmL ul/g] cf}ift d'Nodf Generation Point df pTkflbt x'g] phf{df /f]oN6L a'emfpg' k/]sf] 5 . o;af6 k|ltaif{ k|flws/0fnfO{ sl/j ?= @) s/f]8 yk ef/ k/]sf] 5 .

^=%=% af+sL jSof}tf ;8sjlQ dxz'n jfkt gu/kflnsfx? / uf=lj=;=x?;+u p7fpg jf+sL aSof}tf sl/j ! c/a ^$ s/f]8 / ljB't dxz'n jfkt ;/sf/L aSof}tf sl/j ?= #^ s/f]8 u/L hDdf @ c/a ?k}of+ k'lu;s]sf] 5 .

^=%=^ gub k|jfx j9\b} uPsf] 3f6f Pj+ jSof}tfsf] sf/0f Psftkm{ gofF lgdf{0f x'g] cfof]hgfnfO{ cfGtl/s >f]taf6 h'6fpg g]kfn ljB't k|flws/0fnfO sl7gfO eO/x]sf] 5 eg] csf]{ tkm{ kl5Nnf] s]xL jif{x?df gub k|jfx Go"g x'g uPsf] 5 .

^=%=& dxz'n ;dfof]hg ljut % aif{ b]lv ljB't dxz'n b/df ;dofg's'n ;dfof]hg gePsf] sf/0f g]kfn ljB't k|flws/0fsf] ljQLo l:yltdf gsf/fTds k|efj k/]sf] 5 .

&= ljB't dfu cfk"lt{ ug{ k|:tfljt cfof]hgfx?

13

a9\bf] ljB't dfu k'/f ug{ g]kfn ljB't k|flws/0f tyf gLlh If]qaf6 lgdf{0f ug{ k|:tfj ul/Psf cfof]hgfx? lgDg adf]lhd 5 M

cf=a= cfof]hgfx? s'n Ifdtf -d]=jf=_

Comments

a/DrL )=(( IPP, PPA Concluded v'bL #=$% IPP, PPA Concluded

l;:g] vf]nf )=&% IPP, PPA Concluded

@))^÷)&

;fnLgbL )=@#@ IPP, PPA Concluded

dWo d:ofËbL &) NEA, Under Construction km]d] )=(% IPP, PPA Concluded yf]Kkn vf]nf !=$ IPP, PPA Concluded

@))&÷)*

tfbL vf]nf )=(& IPP, PPA Concluded tNnf] OGb|fjtL $=% IPP, PPA Concluded tNnf] GofbL $=% IPP, PPA Concluded

@))*÷)(

dbL{ #=! IPP, PPA Concluded s'n]vfgL t]>f] !$ NEA, Action Plan Project b/d vf]nf % IPP, PPA Concluded d}n'Ë % IPP, PPA Concluded dflyNnf] df]bL !$ IPP, PPA Concluded dfbL –! !) IPP, PPA Concluded

@))(÷!)

dflyNnf] dfO{ vf]nf # IPP, PPA Concluded rd]lnof #) NEA, Action Plan Project d]jf !* Private x]jf !) Private tNnf] df]bL !( Private dflyNnf] dfbL @) Private

@)!)÷!!

;fGh]g !! Private

sfj]nL–P #) Private dflyNnf] d:ofËbL – P %) Private

@)!!÷!@

dflyNnf] lqz'nL # P ^! NEA, Action Plan Project @)!@÷!# dflyNnf] tfdfsf]zL #)( NEA, Action Plan Project

tdf]/ *# Private

dflyNnf] ;]tL -ST) !@@ NEA, Action Plan Project

sGsfO{ -ST) () NEA, Action Plan Project

@)!#÷!$

dflyNnf] s0ff{nL &% NEA-Private Joint Venture @)!$÷!% klZrd ;]tL &% Private @)!&÷!* lnv'–$ %! Private

dflyNnf] df]bL –P $@ NEA-Private Joint Venture /x'3f6 @& NEA, Action Plan Project

@)!*÷!( b'w sf]zL –! -ST) #)) @)@)÷@! cfFwL vf]nf -ST) !*)

14

k|:tfljt oL cfof]hgfx? dWo] s'g} cfof]hgfsf] lgdf{0f x'g g;Sg] ePdf jf k|0ffnLsf] dfu a[l4sf] b/ k|If]k0f ul/P eGbf a9\g] b]lvPdf dflyNnf] lqz'nL # la -$% d]ufjf6_, a'9L u+uf -@) d]ufjf6_ h:tf ;DefJo cfof]hgfx?sf] nflu nufgL h'6fO lgdf{0f k|f/De ul/g]5 . /3'3f6 -@& d]ufjf6_ ef/t ;/sf/af6 k|fKt x'g] ;x'lnot C0faf6 rfF8} g} sfof{Gjog ug{ k|of; ul/g]5 .

g]kfn ljB't k|flws/0fn] lgdf{0f ug]{ k|:tfljt hnljB't cfof]hgfx? / k|;f/0f nfOgx? tyf k|0ffnL ;'b[l9s/0fsf] nflu s"n cg'dflgt ! c/j 8n/ vr{ nfUg] b]lvG5 . k|:tfljt cfof]hgfx?sf] ;+lIfKt nfut ljj/0f tn lbP cg';f/ 5 .

-s_ ;g\ @)!@.!# ;Dd lgdf{0f ;DkGg x'g] pTkfbg tyf k|;f/0f nfO{g cfof]hgfx?M

nfut -ldlnog o'=P;=8n/_

qm=;+= cfof]hgfx?

pTkfbg k|;f/0f

s"n nfut -ldlnog

o'=P;=8n/_

ljlQo >f]t -k|ltj4tf ePsf] / cg'/f]w ul/g]_

!= s'n]vfgL t];|f]

@)=@# !=%) @!=&# g]=;=, g]=lj=k|f=

@= rd]lnof

^&=^! !!=!( &*=*) sf]l/of, cf]k]s, g]=;=, g]=lj=k|f=

#= dflyNnf] lqz'nL # P ($=*& !!=% !)^=#& rLg, g]=;=, g]=lj=k|f=

$= /x'3f6

&)=@* ef/t ;/sf/sf] ;x'lnot C0f

%= dflyNnf] tfdfsf]zL $!&=$& @&=( $$%=#& g]=;=, g]=lj=k|f= / gLlh If]q

^= dflyNnf] ;]tL

!(*=@^ !$ @!@=@^ g]=;=, g]=lj=k|f=, P=lj=j}=

&= dflyNnf] lqz'nL # la ^*=)) ^*=) g]=;=, g]=lj=k|f=, gLlh If]q

s"n hDdf -s_

*^^=$$ ^^=)( !))@=&

qm=;+= k|zf/0f nfOg cfof]hgf ;dfKt x'g] ldlt ! lj/u+h sf]l/8f]/ !#@ s]=eL= k|=nf= @))^.)& @ a'6jn ;'gf}nL !#@ s]=eL= k|=nf= @))&.)* # yfgsf]6 eQmk'/ !#@ s]=eL=k|=nf @))&.)* $ lvDtL 9Ns]jf/ @@) s]=eL=k|=nf= @))&.)* % sf]xnk'/ ndxL lzjk'/ a'6jn lvDtL 9Ns]jf/ @@)

s]=eL= bf]>f] ;ls{6 k|=nf= @))&.)*

^ x]6f}8f jb{3f6 @@) s]=eL k|=nf= @))(.!) & jb{3f6 a'6jn @@) s]=eL= k|=nf= @)!!.!@ * x]6f}+8f yfgsf]6 @@) s]=eL= @)!!.!@ ( e/tk'/ x]6f}8f @@) s]=eL= bf]>f] ;ls{6 yKg] @)!!.!@

15

-v_ k|0ffnL ;'b[l9s/0f cfof]hgfM

pQm cfof]hgfx? sfof{Gjog ug{ g]kfn ljB't k|flws/0fn] h'6fpg kg]{ cfly{s >f]tsf] nflu :yfgLo Pj+ cGt{/fli6«o bft[ ;+:yfaf6 pknAw ug{ ;/sf/;+u cg'/f]w ul/ ljz]if kxn ug]{5 . o;sf] cnfjf g]kfndf xfn e} /x]sf] ljB't ;+s6 ;dfwfg ug{ / g]kfn-ef/t ljr eljiodf cfjZos kg{ ;Sg] ljB't cfbfg–k|bfg Ifdtfdf j[l4 ug{ ef/t;Fu ;xdtL sfod ul/ @@) s]=eL=df lgDg Cross Border Interconnection Link line g]kfn ;/sf/ / g]=la=k|f=sf] ;+o'Qm nufgLdf lgdf{0f ul/g]5 .

• j'6jn–cfgGbgu/ v08sf] sl/j &^ ls=ld= nfdf] k|;f/0f nfO{g dWo] g]kfn tkm{sf] sl/j @@ ls=ld= nfdf] j'6jn–;'gf}nL v08 .

• 9Ns]jf/–;Ltfd9L v08sf] sl/j ^) ls=ld= k|;f/0f nfO{g dWo] g]kfn tkm{sf] sl/j #) ls=ld= nfdf] 9Ns]jf/–leQfdf]8 v08 .

• cgf/d0fL–l;nu9L v08sf] sl/j ^% ls=ld= k|;f/0f nfO{g dWo] g]kfn tkm{ kg]{ sl/j @% ls=ld=v08 .

oL ;a} cfof]hgfx? ;DkGg eP kl5 ;g\ @)!$ b]lv ljB't Ifdtf s]lx dfqfdf hu]8f e} dfu eGbf cfk"lt{ a9L x'g] b]lvPsf] n] lgsf;L lalqmdf hf]8 lbOg] 5 .

*= k|lta¢tf

*=! k|:tfljt cfof]hgfx?sf] lgdf{0fsfo{ oyflz3| z'? ug{ cfjZos nufgLsf] nflu :yflgo ;|f]tsf] kl/rfng Pj+ cGt/fl6«o ljlQo ;+:yf PlzofnL ljsf; a}+s, ljZj a}+s / cGo bft[;+:yfx? ;+u ;xsfo{ u/L cfjZos nufgL h'6fOg] 5 .

qm=;+= cfof]hgfx? s"n nfut -ldlnog

o'=P;=8n/_

ljlQo >f]t -k|ltj4tf ePsf] / cg'/f]w ul/g]_

* b]jL3f6 h=la=s]Gb| ;'b[l9s/0f

^=% ef/t ;/sf/

( x]6f}+8f ab{3f6 @@) s]=le= 8an ;ls{6 nfOg

$&=)) g]=;=, g]=lj=k|f= hfkfg

!) a'6jn sf]xnk"/ !#@ s]=le= bf]>f] ;ls{t nfOg

%=%) g]=;=, g]=lj=k|f=, P=lj=j}=

!! rknL !#@.^^.!! ;j:6]zg

&=^) g]=;=, g]=lj=k|f=, hfkfg

!@ dWo d:of{ËbL- 8'd|]- bdf}nL !#@ s]=le= nfOg

@=%) g]=;=, g]=lj=k|f=, gj]{, P=lj=j}=

!# sfa]nL b'xjL !#@ s]=le= nfOg

!*=%) g]=;=, g]=lj=k|f=, lj=j}=

s"n hDdf -v_

*!=!)

s"n hDdf -s / v_

!)()=#

16

*=@ g]kfn ljB't k|flws/0fsf] ;xeflutfdf lgdf{0f ul/g] cfof]hgfx?sf] nflu :yfgLo ;|f]tx?sf] kl/rfng ug{ ljB't a08 lgZsf;g ul/g] 5 .

*=#= lghLIf]qsf] nufgL k|f]T;fxgsf] nflu ljB't vl/b ;Demf}tf -PPA_ nfO{ ;/nLs/0f ug{ kl/dflh{t gLlt tyf sfo{ljlw agfO{ sfof{Gjog ul/g]5 .

*=$ ;"gsf]zL sf]l/8/df cfpg] ;-;fgf IPP x?af6 pTkfbg x'g] ljB't k|;f/0f ug{ rfs' ;'gsf]zL ## s]=le= 8an ;ls{6 nfOg lgdf{0f tyf nfdf];f+3'df ^^.!! s]=le= / !#@.## s]=le= sf] yk 6«fG;km/d/ h8fg ul/g]5 .

*=% ljB't dfu / cfk"lt{ c;Gt'ng Joj:yfkgsf nflu lgDg sfo{qmdx? cufl8 a9fOg] 5 .

!_ ljB't dfFu lgoGq0f ug{ Demand Side Management sfo{ of]hgf tof/ ul/ nfu' ul/g] 5 / pkef]Qmfx?nfO{ ljB't vktdf ldtJolotf ug{ r]tgfd"ns sfo{qmd tof/ u/L Jofks k|rf/ k|;f/ ul/g]5 .

@_ ef/tjf6 yk ljB't cfoft ug{ lgDg k|of; ul/g] 5 . s_ k"j{df b'xjL–s6}of !#@ s]=eL+ nfO{gjf6 yk %) d]ufjf6 ljB't cfoft ug{ k|of;

ul/g]5 . v_ 6gsk'/jf6 k|fKt x'g] jflif{s & s/f]8 o"lg6 ljB't a9L cfjZos x'g] lx+pbsf] ;dodf

k|fKt ug{ kxn ul/g] 5 .

*=^ r'xfj6 lgoGq0f sfo{ ljB't r'xfj6 tyf b'?kof]u lgoGq0f cleofgsf] ?kdf ;+rfng ul/g]5 . "g]kfn ljB't k|flws/0fsf] cfufdL cleofgM ljB't r'xfj6df lgoGq0f " eGg] gf/fsf ;fy cfufdL @ aif{ leq ljB't r'xfj6 @) k|ltztdf NofOg]5 . ck|fljlws r'xfj6 lgoGq0fsf nflu lgDg sfo{x?df ljz]if hf]8 lbOg]]5 M

1= a9L x'ls+u ePsf] tyf lgl/If0f ug{ sl7gfO ePsf] :yfgx?df u|fxs au{, gful/s ;dfh, :yfgLo k|zf;g, ;ft /fhg}lts bn / g]=s=kf= dfcf]jfbL ;d]tsf] ;xof]u lnO x'ls+u x6fpg] tyf lgl/If0f sfo{nfO{ Jofks agfOg] 5 / ld6/ l/l8+u x'g g;s]sf] :yfgx?df ld6/ l/l8+u ul/g] 5 .

@= gLof]lht unt ld6/ l/l8+u tyf ljln+udf ;+nUg u|fxs tyf sd{rf/Lx?nfO{ s8f eGbf s8f sf/jfxL ul/g]5 .

*=& ljt/0f tyf Uf|fxs;]jfdf lgDg ;'wf/x? ul/g] 5 M ;a} ljt/0f s]Gb|x?df sDKo"6/fO{H8 ljlnË k|0ffnL nfu' ul/g] 5 . gofF u|fxs sg]S;g u|fxsn] ;Dks{ u/]sf] ;ft lbg leq ul/g] 5 . gf] nfO{6 ;]jf zx/L If]qdf b'O{ 306f, u|fld0f If]qdf ^ 306f / uf8L ghfg] 7fp+df b"/L x]/L oyfl;3| ;]jf pknAw u/fO{g]]5 . yk s]lx ljt/0f s]Gb|x?df 6f]sg k|0ffnLaf6 ljB't dxz'n lnOg] Joj:yf ldnfOg]5 .

*=* ljlQo cj:yfdf ;'wf/ Nofpg lgDg sfo{x? ul/g] 5 M

*=*=!=;/sf/;+usf] C0fsf] Jofhb/ k'g/fjnf]sg g]kfn ;/sf/ dfkm{t j}b]lzs ;|f]taf6 k|fKt x'g] C0f tyf cg'bfgdf Jofh b/ * k|ltzt /

:yfgLo ;|f]tsf] C0f nufgLdf g]kfnL ?k}of+df nufgL ePsf] xsdf ^=% k|ltzt Jofhb/

17

sfod x'g]] lg0f{o ePsf]5 . ;f] sfod ePsf] Aofhb/ cem 36fpg Pj+ cg'bfg dfkm{t k|fKt nufgLsf] k"+hLs/0f ahf/ d'Nodf sfod ug{ / C0fef/ klg ;f]xL cg'?k sfod ug{ ;/sf/;+u kxn ul/g]5 .

*=*=@ ljB't /f]oN6L k|s[ofdf k'g/fjnf]sg lghL If]qx?n] h:t} Generation Point sf] ljlqm d'Nodf /f]oN6L ltg]{ Joj:yf x'g g]kfn ljB't k|flws/0faf6 ljB't ljsf; ljefu nfO{ cg'/f]w ul/;lsPsf] x'+bf ;f]xL cg';f/ sfof{Gjogsf] nflu kxn ul/g]5 .

*=*=# ljB't dxz'n ;dfof]hg g]kfn ljB't k|flws/0fn] ljB't dxz'ndf ;dofg's'n ;dfof]hg ug{ ljut % aif{b]lv ljB't dxz'n lgwf{/0f cfof]udf k6s k6s lgj]bg k]z ubf{ klg ;dof]hg x'g ;s]sf] 5}g . dxz'n ;dof]hgsf] nflu k|oTglzn /xg]5 .

*=*=$ ;8sjlQ tyf ;/sf/L aSof}tf ;8sjlQ tyf ;/sf/L aSof}tf g]kfn ;/sf/sf] ;xof]u lnO{ c;'n ul/g]5 .

*=( k|zf;lgs ;'wf/sf sfo{qmdx?nfO{ cl3 a9fO sd{rf/Lx?sf] sfo{;Dkfbg Ifdtfdf clea[l4 ul/ k|bfg ul/g] ;]jfnfO{ l56f] 5l/tf] agfOg]5 .

*=!) k|;f/0f nfOgsf] Right of Way df kg]{ hUufsf] Ifltk'lt{ ;DalGw :ki6 gLlt Nofpg kxn ul/g]5 .

*=!! jftfj/0fLo d'Nof+s k|ltj]bg l:js[lt x'g] k|s[ofdf ;'wf/ ug{ g]kfn ;/sf/nfO{ cg'/f]w ul/g] 5 .

*=!@ lgdf{0flwg dWodZof{ËbL hnljB't cfof]hgfdf yk Jojwfg x'g glbO{ @))& l8;]Da/ ;Dddf klxnf] o"lg6 ;+rfngdf NofO{g] 5 .

dfly hfx]/ ul/Psf k|ltj4tfx?sf]] sfof{Gjogn] g]=la=k|f=nfO{ ;Ifd, lhDd]jf/ / ;kmn ;+:yfsf] ?kdf :yflkt ug{ d2t k'Ug]5 eGg]df xfdL ljZj:t 5f}+ . b]zsf] sl/j #( k|ltzt hgtfsf] kx'+rdf dfq l;ldt /x]sf] ljB't ;]jf b]zsf ;j} hgtf ;fd' b«"tt/ utLdf k'¥ofpg o;n] yk pT;fx k|bfg ug]{5 . o; c7f]6df g]kfn ljB't k|flws/0f ;DalGwt ;a}af6 ;xof]u / z'e]R5f k|fKt x'g] cfzf /fVb5 .

18

dWo d:of{ËbL hnljB't kl/of]hgfsf] cWofjlws ljj/0f

k[i7e"ld

dWo d:of{ËbL hnljB't kl/of]hgf lgdf{0fsf] nflu ldq/fi6« hd{g ;/sf/af6 ;g\ !((( -lj=;+= @)%^_ df Deutch Mark (DM) @%) ldlnog j/fj/sf] cg'bfg ;xof]u k|fKt x'g] ePkl5 kl/of]hgf lgdf{0f pGd'v ePsf] xf] . ;g\ @))% sf] lxpFbofdsf] dfu k"/f ug]{ nIo;fy h'g, @))! b]lv $# dlxgfleq -l8;]Dj/, @))$_ ;Sg]ul/ kl/of]hgfsf] lgdf{0f cf/De ul/Psf] kl/k|]Iodf ljleGg jfwf cj/f]wx? kf/ ub}{ ^) dlxgf ljlt;Sbf xfn;Dd sl/j &^ k|ltzt sfd ;DkGg x'g;s]sf] 5 . t/ o; bf}/fgdf z'?df ck]Iff ul/Psf] lgdf{0f cjlw tyf nfut cg'dfgdf eg] pNn]vgLo j[l4 x'g uPsf] 5 .

kl/of]hgfsf] cWoog tyf nfut cg'dfg

;g\ !((& df hd{g k/fdz{bftf Lahmeyer åf/f hl8t Ifdtf ^!=@ d]ufjf6 lgwf{/0f u/L kl/of]hgfsf] Feasibility Study ;DkGg ul/Psf] lyof] .

km]j|'j/L, !((( df 6]G8/ l8hfOg tyf 6]G8/ 8s'd]G6 tof/ ug{ hd{g k/fdz{bftf Fichtner Joint Venture (FJV) lgo'Qm ul/Psf] / To;}sf] cfwf/df lgdf{0f sfo{sf] jf]nkq cfJxfg ul/Psf] lyof] . Tender Design tof/ ug]{ qmddf k/fdz{bftf FJV n] k"j{ cWoogdf k|:tfljt ;+/rgfx?sf] l8hfOgdf kl/jt{g u/L kl/of]hgfsf] hl8t Ifdtf ^!=@ d]ufjf6af6 j9fO{ &@ d]ufjf6 k'¥ofPsf] / ;f]sf] nflu o"/f] @!@ ldlnogsf] nfut Oli6d]6 tof/ kf/]sf] lyof] .

kl/of]hgfsf] lj:t[t l8hfOg tyf lgdf{0f ;'kl/j]If0f (Detailed Design and Construction Supervision) sfo{ ug{ k/fdz{bftf FJV ;Fu bf];|f] r/0fsf] (Stage-II) k/fdz{;]jf ;Demf}tf ;g\ @))) sf] l8;]Dj/df ;DkGg eP cg';f/ k/fdz{bftfn] lj:t[t l8hfOgsf sfo{x? cf/De u/]sf] lyof] . 6]G8/ l8hfOgdf kl/jt{g u/L lj:t[t l8hfOg sfo{ d], @))@ df ;DkGg ePtfklg l8hfOg kl/jt{g sfd FJV n] xfn;Dd klg ub}{ cfPsf] 5 .

kl/of]hgfsf] jftfj/0fLo k|efj cWoog tyf cg'udg ug{ :jb]zL k/fdz{bftf TAEC/NESS Joint Venture (TN-JV) ;g\ !((( df lgo'Qm ul/Psf] lyof] .

kl/of]hgfsf] d'Vo lgdf{0f sfo{nfO{ ljleGg !) j6f n6x?df ljefhg u/L k|To]s sfo{sf nflu 5'§f5'§} 7]s]bf/x? lgo'Qm ePsf 5g\ .

ljlQo Joj:yf

tTsflng >L % sf] ;/sf/ tyf hd{g ;/sf/÷KfW jLr ldlt @@ h'nfO{, !((( -)^ >fj0f, @)%^_ df DM @%) ldlnog -o"/f] !@&=*@ ldlnog_ sf] cg'bfg ;xof]usf nflu ljlQo ;Demf}tf (Financial Agreement) ;DkGg ePsf] . jfFls /sd tTsflng >L % sf] ;/sf/ tyf g]=lj=k|f=åf/f Joxf]l/g] ;xdlt klg pQm ;Demf}tfx?df pNn]v ePsf] .

19

pQm ljlQo ;Demf}tfsf] cfwf/df !@ cS6f]j/, !((( df g]=lj=k|f= tyf bft[;+:yf (KfW) jLr KfW n] cg'dfg u/]sf] nfut o"/f] !&$=^) ldlnogsf] cfwf/df Project Agreement ;DkGg ePsf] . h;cg';f/, KfW åf/f pQm nfut cg'dfg !&$=^) ldlnog o"/f] dWo] o"/f] !@&=*@ ldlnog Joxf]g]{ / jfFls /sd o"/f] $^=&* ldlnog tTsflng >L % sf] ;/sf/ tyf g]=lj=k|f= n] Joxf]g]{ ;xdlt ePsf] .

kl/of]hgfsf] nfut ljleGg sf/0fn] qmdzM a9\b} uO{ k/fdz{bftf FJV n] nfut cg'dfg ;g\ @))$ df o"/f] @@( ldlnog, ;g\ @))% df o"/f] @$(, / ;g\ @))^ df o"/f] @&#=$ ldlnog k'¥ofPsf] .

tTsflng >L % sf] ;/sf/ tyf hd{g ;/sf/÷KfW jLr hgj/L, @))% df o"/f] @!=@$ ldlnog / hgj/L, @))^ df o"/f] !@=^ ldlnog yk cg'bfg ;xfotfsf nflu ljlQo ;Demf}tfx? ;DkGg ePkl5 cg'bfg ;xof]u /sd hDdf o"/f] !^!=^^ ldlnog ePsf] .

tTsflng >L % sf] ;/sf/÷g]=lj=k|f= tyf hd{g ;/sf/÷KfW jLr kl/of]hgfaf6 k|efljt If]qdf ;fdflhs tyf jftfj/0fLo sfo{x? -:jf:Yo, lzIff, vfg]kfgL tyf ;/;kmfO{, ;8s÷k'n, u|fld0f ljB'tLs/0f cflb_ sfof{Gjg ug{ 5/l5d]s ;xof]u sfo{qmd (Neighbourhood Support Program) sf] nflu gf]e]Dj/, @))@ df o"/f] @=% ldlnogsf] ljlQo ;Demf}tf ;DkGg eP cg'?k pQm ljsf; lgdf{0f sfo{x? ul/Psf 5g\ .

d"Vo 7]s]bf/x?sf] 5gf}6, 7]Ssf ;Demf}tf tyf cfwf/ d"No (Base Cost)

kl/of]hgf sfo{x? ljleGg !) j6f n6 (Lot C4, Lot C5, Lot C6, Lot C, Lot M, Lot E, Lot SS1, Lot SS2 / Lot TRL) x?df ljefhg ul/Psf] / n6 SS2 jfx]s cGo ( n6x?sf] nflu 7]Ssfk§fx? k|fljlws tyf cfly{s k|:tfjx? cfJxfg u/L KfW sf] ;xdltdf k|To]s Lot sf nflu 5'§f5'§} 7]Ssf ;Demf}tfx? ;DkGg ul/Psf x'g . cg'bfgsf zt{ cg';f/ d'Vo n6x?sf sfo{sf nflu hd{g jf o"/f]lkog d"nsf 7]s]bf/x?jLr l;ldt k|lt:kwf{ u/fOPsf] lyof] .

KfW sf] ;xdltdf ;DkGg 7]Ssf ;Demf}tfx? tyf k/fdz{ ;]jf ;Demf}tfx? ;DkGg ePkl5 kl/of]hgfsf] cfwf/ d'No (Base Cost) o"/f] !$(=( ldlnog sfod ePsf] xf] .

xfnsf] ef}lts k|ult tyf lgdf{0f cjlw

7]s]bf/n] !# gf]e]Da/ @))# df lgwf{/Lt ;dodf e'QmfgL gkfPsf] sf/0f b]vfO Pstlkm{ ?kdf 7]Ssf tf]8]sf] lyof] . lgdf{0f sfo{ k'g ;+rfng ug{ g]kfn ljB't k|flws/0f / 7]s]bf/ ljr !( l8;]Dj/df hd{gLdf Heads of Agreement (HoA) / @) hgj/L, @))$ df sf7df8f}df Memorandum of Agreement (MoA) ;DkGg ePsf] lyof] . pQm ;xdlt cg';f/ !% l8;]Dj/, @))^ ;Dddf kl/of]hgf ;DkGg x'g'kg]{df ;f] x'g g;Sg] ePsf]5 . cfufdL lbgx?df ljgf jfwf cj/f]w sfo{ ;+rfng x'g;s]df @))& sf] l8;]Dj/df Pp6f Unit ;+rfngdf Nofpg] nIosf ;fy clxn] sfd ;+rfng eO/x]sf] 5 . bf]>f] o"lg6 dfr{, @))* ;Dddf ;+rfng x'g] cg'dfg 5 .

20

;+zf]lwt nfut cg'dfg tyf gk'u /sd (Funding Gap)

kl/of]hgfsf] k|ult;Fu} nfutdf klg lg/Gt/ j[l4 x'g yfn]kl5 nfut j[l4s} cg'kftdf KfW åf/f cg'bfg pknJw x'g g;Sg] cfzo JoQm ul/Psf] / yk /sd tTsflng >L % sf] ;/sf/÷g]=lj=k|f= n] Joa:yf ug'{kg]{ b]lvPsf] k[i7e"lddf OlGhlgo/ FJV n] dfr{, @))% df hDdf o"/f] @$*=&% ldlnogsf] ;+zf]wlt nfut cg'dfg tof/ kf/]sf] lyof] . pQm nfut cg'dfg cg';f/sf] ljlQmo ;|f]t h'6fpg bft[;+:yf KfW, World Bank, cy{ dGqfno / g]=lj=k|f= sf k|ltlglwx?sf] ;xeflutfdf !* h'nfO{, @))% df cy{ dGqfnodf cfof]hgf ul/Psf] Stakeholder's Meeting df ;+zf]lwt nfut lgDg ;|f]tx?af6 Joxf]g]{ ;xdlt ePsf] lyof] .

;|f]t /sd -ldlnog o"/f]_

KfW : !^!=^^ g]=lj=k|f= : $)=( tTsflng >L % sf] ;/sf/ : !%=$% Bridge Financing (NEA) : #=) PRSC Replacement -tTsflng >L % sf] ;/sf/_ : !)=) Power Bond : !&=&$

hDdf @$*=&%

tt\kZrftM xfn k/fdz{bftf FJV n] kl/of]hgfsf] nfut k"gM ;+zf]wg u/L b]xfo cg';f/ hDdf /sd o"/f] @&#=$! ldlnogg k|:t't u/]sf] / pQm j[l4 cg';f/ g]kfn ;/sf/÷g]=lj=k|f= nfO{ o"/f] @$=^^ ldlnog (Additional Funding Gap) sf] yk cfly{s ef/ kg{ uPsf] 5 . Contract Price : Euro 149.78 Milion Variations : Euro 51.30 Million Claims : Euro 43.46 Million Physical Contingencies : Euro 9.08 Million Price Contingencies : Euro 19.79 Million

Total Euro 273.41 Million

pQm /sd lgDg ;|f]tx?af6 Joxf]l/g] M

KfW : Euro 161.66 MIllion

g]kfn ;/sf/ / g]=lj=k|f= : Euro 87.09 MIllion -nfut Euro 248.75 M x'Fbf_ Additional Funding Gap : Euro 24.66 Millon -nfut Euro 273.41 M x'Fbf_

, hDdf Euro 273.41 Million

KfW åf/f Committed hDdf /sd o"/f] !^!=^^ ldlnog dWo] sl/j o"/f] $&=( ldlnog pknJw x'g afFls /x]sf] cj:yfdf ;+zf]lwt nfut cg'dfg cg';f/ g]kfn ;/sf/÷g]=lj=k|f= n] Joxf]g'{kg]{ /sd klxnf vr{ ug'{kg]{ zt{ /flv !& h'g, @))% kl5 ul/Psf sfo{x?sf] vr{ gJoxf]g]{ elg ;f]xL ldltb]lv Disbursement /f]Ssf (Freeze) u/]sf] x'Fbf ;f] ldlt kl5 ul/Psf sfo{x?sf] e'QmfgL g]kfn ;/sf/÷g]=lj=k|f= sf] ;|f]taf6 Joxf]l/Psf] 5 . g]kfn ;/sf/÷g]=lj=k|f= n] Joxf]g'{kg]{ (Funding Gap) yk /sd kl/of]hgfsf] vftfdf ;'/lIft gePsf] elg 7]]s]bf/x?n] eljiodf ug{] sfo{x? jfktsf] e'QmfgL ;'lglZrt ug{ g]=lj=k|f= nfO{ bjfj lbO/x]sf] cj:yf 5 .

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kl/of]hgfsf] nfutdf pNn]vlgo j[l4 x'g'sf d'Vo sf/0fx? lgDgk|sf/ b]lvPsf 5g\ M

• bftfsf zt{ cg';f/sf] o"/f]k]nL dfkb08 jdf]lhd lgdf{0f sfo{ u/fpFbf vr{ jl9 nfUg] . • b]zdf ljBdfg k|lts'n zflGt ;'/Iffsf] jftfj/0f -jGb, x8tfn, gfsfjGbL, sk\mo'{ cflb_ sf

sf/0fx?n] lgdf{0f sfo{x? cj?4 jf jGbePsf] cjlw jfkt 7]s]bf/sf bfjLx? (Claims) . • l;len sfo{sf] 7]Ssf ;Demf}tf ug{ $! lbgsf] l9nfO{ nufot cGo ljifox?df 7]s]bf/sf

bfjLx? . • Tender Design df k/fdz{bftf FJV n] cg'dfg u/]sf] sfdsf kl/df0f sd (Underestimated)

/x]sf] . jf:tljs Quantities jl9 ePsf] / gofF lgdf{0f sfo{ ub}{ hfFbf ;d]t gofF sfdx? (Variation) yk ePsf] .

• HoA/MoA sfof{Gjogåf/f ;+zf]lwt lgdf{0f sfo{x?sf] yk vr{ . • d"No j[l4 (Price Escalation) sf] /sd 7]s]bf/nfO{ e'QmfgL lbg'kg]{ ;Demf}tfdf k|fjwfg ePtf

klg ;DjlGwt 7]Ssf ;Demf}tfdf /sd ;dfj]z gePsf] . • k/fdz{bftfsf] s/f/ Joa:yfkg÷k|zf;g sdhf]/ /x]sf] . • g]=lj=k|f=kl/of]hgf Joa:yfkg÷k|zf;gsf sld sdhf]/Lx? /x]sf] . • ;DjlGwt pRr:t/df x'g] lg0{fodf l9nfO{ x'g] u/]sf] . • 5/l5d]s ;xof]u sfo{qmdsf] cltl/Qm :yfgLo hgtfx?af6 yk ljsf; lgdf{0f tyf ljleGg

k|sf/sf Ifltk"lt{ ;DjGwL cgluGtL dfux? cfpg] u/]sf] ;f] k"/f ug{ g;s]sf] sf/0faf6 :yfgLo hgtfx?af6 ljleGg afwf cj/f]w cfPsf] .

7]s]bf/sf bfjLx?

zflGt ;'/Iff, l8hfOg kl/jt{g nufot cGo ljleGg sf/0fx?n] ubf{ l;len lgdf{0f sfo{sf 7]s]bf/ DDC-JV n] h'nfO{, @))^ ;Dddf sl/j o"/f] !)@=* ldlnog yk e'QmfgL kfpg' kg]{ dfu bfjL k]z u/]sf] 5 .

Lot C4 - SofDk lgdf{0f sfo{sf 7]s]bf/n] Change in Legislation sf] sf/0f b]vfO{ /sd ? !,@!,&#,%*! sf] bfjL k]z u/]s]f .

To;}ul/ cGo n6 (Lot E, Lot HSS, Lot M, Lot SS1, Lot SS2) sf sfo{x?sf 7]s]bf/x?n] klg lgdf{0f sfo{ cj?4 ePsf sf/0f nufot cGo ljifox?df sl/j o"/f] ( ldlnog bfjL k]z u/]sf 5g\ .

Arbitration tyf Amicable Settlement • l;len lgdf{0f sfo{sf 7]s]bf/ DDC-JV n] dfu bfjL u/]sf ljifox? pk/ k/fdz{bftf FJV n]

u/]sf] d"NofÍg, lgwf{/0f, lg0f{o jf e'QmfgL l;kmfl/; g]=lj=k|f= tyf 7]s]bf/ b'j}nfO{ dfGo gePsf] / 7]s]bf/ DDC-JV n] cGt/f{li6«o dWo:ystf{ International Court of Arbitration (ICA) of the International Chamber of Commerce (ICC) df o"/f] #^=^ ldlnog / g]=?= #!#=!% ldlnogsf] d'2f k]z u/]sf] x'Fbf Arbitration sf] k|s[of cf/De eO{;s]sf] 5 .

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• Lot C4- SofDk lgdf{0f sfo{sf 7]s]bf/ Tundi-Lama JV n] bfjL k]z u/]sf] pk/f]Qm /sddf j[l4 u/L g]=?= %=#& s/f]8sf nflu lghn] Arbitration z'? u/]sf] x'Fbf xfn pQm bfjL pk/ g]kfn dWo:ytf kl/ifb (NEPCA) df Arbitration cf/De ePsf] 5 .

Dofb yk tyf nfut j[l4sf] ljZn]if0f

FJV sf] xfn cg'dfg cg';f/ kl/of]hgfsf] s"n nfut o"/f] @&#=$) ldlnog k'u]sf] / xfn klg l8hfO{gdf km]/jbn x'Fb} /x]sf] cj:yfdf lgdf{0f ;DkGg x'g cem} sl/j @ jif{ ;do nfUg] x'Fbf o"/f] @&#=$ ldlnogaf6 cem j[l4 x'Fb}g eGg ;lsg] cj:yf b]lvFb}g . o;/L nfut / ;do j[l4 x'gfsf] sf/0f s'g} PskIf jf ljifodfq geO{ kl/of]hgfsf] cWoog, l8hfOg tyf lgdf{0fsf] qmddf k|ToIf jf k/f]If ;DjGw jf k|efj ePsf jf kf/]sf ;j} Key Players tyf Stakeholders -bft[;+:yf, k/fdz{bftf, g]=lj=k|f=÷kl/of]hgf Joa:yfkg, >L % sf] ;/sf/÷g]kfn ;/sf/ cGtu{tsf ljleGg lgsfox?, /fhg}lts bnx?, g]=s=kf=–dfcf]jfbL, gful/s ;dfh, u}x| ;/sf/L ;+3 ;+:yfx?, 7]s]bf/x? tyf :yfgLo hgtfx?_ sf] e"ldsfsf] ;dli6ut c;/ (Compounding Effect) xf] eGg] tYo kl/of]hgf sfof{Gjogsf] bf}/fgdf 36]sf 36gfx? (Events) tyf ljleGg Key Players/Stakeholders sf] e"ldsfsf] ljZn]if0fåf/f :ki6 b]lvPsf] 5 .