Monday, December 16, 2019

Hydropower application rejected

Norad has rejected an application for support from the Norwegian company Energy Development AS for hydro-electric project development in Burma. (See DT 2/12)

The firm, which is currently involved in Nam Sim dam in Laos, is owned by the private investor Ove Christian Bugge. He asked for NOK 650,000 to finance exploratory work. Norad turned it down because the financing was not in place.

Bugge tells DT he will continue to work on this, and expects to find investors once projects are identified.