In 2017, Butwal Power Company, a Nepalese firm, in association with three Chinese companies agreed to develop three separate hydropower projects of at least 1000 mw with an investment of up to USD 3 billion in 5 years ahead. Followed by a number of other projects, this joint venture under the BRI is a long term partnership. Three Chinese companies involved in developing first 100 mw Lower Mananghydroelectric project, located at high Himalayan area of Gandaki zone in western Nepal, included Sichuan Provincial Investment Group Co Ltd (SPIG), Chengdu Xingcheng Investment Group Co Ltd (CXIG) and Qing Yuan Engineering Consulting Co Ltd (QYEC). In 2020, the stakeholders signed a connection agreement with the Nepal Electricity Authority (NEA) initially for 104 mw later amended to 139.2 mw. The Environmental Impact Assessment (EIA) has been conducted and is under approval process. QYEC China is undertaking the feasibility study while Nepal government approved USD 280 million to develop the Lower Manang hydropower project. The construction work will commence once a project development agreement is signed between the Investment Board Nepal and the developers.
Source
https://eng.yidaiyilu.gov.cn/qwyw/rdxw/36159.htm
https://www.bpc.com.np/projects/168-new-initiatives
https://www.hcel.com.np/projects/national?menu_id=3
http://www.china.org.cn/business/2021-06/24/content_77583280.htm