Nygardsvatnet is a lake in the municipality of Hol in Buskerud county, Norway.
The lake is situated south of the Hallingskarvet mountain range. The lake serves as a reservoir for Usta kraftverk, a hydroelectric plant which was put into operation in 1965.
The water level is controlled by a dam at the outlet and a tunnel down to lakes Sløddfjorden and Ustevatn.
The Usta kraftverk power plant is owned and operated by E- CO Energi.
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