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Economy

India's investment in Nepal's hydroelectricity gives hope

The $1.4 billion Upper Karnali hydroelectric plant, funded by India's GMR group, will be Nepal's largest ever foreign direct investment.   © Courtesy of Investment Board, Nepal

KATMANDU -- When Nepal built its first hydropower plant in 1911, it was among the first Asian countries to do so. The 500kW plant was funded by the British and named Chandra Jyoti, after the then prime minister. It was meant to light the palaces of the Ranas, the hereditary rulers until 1951.

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