Catastrophic Floods Damage Hydropower Project in Nepal
What happened
Catastrophic floods struck Nepal on August 26, tearing apart nearly a dozen hydropower projects in the Trishuli river basin, including the Upper Trishuli-1 project. Of the 245 workers at the Upper Trishuli-1 site, three died, and 90 people are still missing. The disaster caused massive damage to homes, roads, and bridges in the affected regions of Nepal's Saran district and Rasuwa district.
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Why it matters
The destruction of the Upper Trishuli-1 project and surrounding infrastructure represents massive economic disruption across Nepal. The damage to the project site could lead to significant operational failures and cost increases for the contracted firm.
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Who's involved
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- AndritzSpeculative
Andritz could face operational failure and cost increases due to direct damage to the contracted project.
- International Finance CorporationSpeculative
The International Finance Corporation could face a significant loss of invested capital and operational exposure from the project destruction.
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The entities involved
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Andritz
Austrian company
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Related events
- Andritz operates a hydropower project in Jharkhand while the Odisha and Indian governments coordinate rescue efforts for stranded nationals.
- Andritz worked on an Australian hydropower project located in India.
- Andritz is partnering with Vuje to modernize the Gabčíkovo hydroelectric power plant, with VODOHOSPODÁRSKA VÝSTAVBA awarded the contract.