State-owned SJVN Ltd has bagged a 679 MW hydroelectric project in Nepal, the power ministry said in a statement on Saturday.

The Nepalese government has allotted 679 MW Lower Arun Hydro Electric Project in Nepal to SJVN through international competitive bidding, SJVN Chairman and Managing Director Nand Lal Sharma said.

The Investment Board of Nepal in its meeting on January 29, 2021, chaired by Nepal's Prime Minister K P Sharma Oli awarded the project to SJVN.

Sharma has also met Oli in Kathmandu and assured him that the project will be completed in a time bound manner, the statement said.

Sharma said SJVN has bagged the project through international competitive bidding, after competing with various international companies including from China.

The Lower Arun Hydro Electric Project is located in Sankhuwasabha and Bhojpur districts of Nepal. On completion, the project will generate 3,561 million units of electricity per annum.

Sharma further stated that the projects being developed by SJVN in Nepal would result in overall development and boost mutual economic growth in India and Nepal.

He said the infrastructural development related to project activities would ensure overall socio-economic development of the region.

SJVN is already constructing 900 MW Arun 3 HEP (hydro projects) in Nepal and 217km 400 kV associated transmission system. With addition of Lower Arun Hydro Electric Project to its kitty, SJVN portfolio now stands at 8960.5 MW.

The company has presence in various sectors of energy generation which includes hydro, wind, solar & thermal. The company also has a presence in the field of energy transmission.