A consortium of six commercial banks reached an agreement with Siuri Nyadi Power ltd (SNPL) on investing 75 per cent of total investment in Super Nyadi Hydropower Project with an installed capacity of 40.27 mega watts.

According to the promoter company (SNPL), out of the total investment of Rs 7 billion, NMB Bank (NMB) Prabhu Bank (PRVU) Megha Bank, Century Bank (CCBL), NCC Bank (NCCB) and Kumari Bank (KBL) will inject Rs 5.25 billion while SNPL will invest remaining Rs 1.75 billion.

The under construction run-of-the-river type hydel project will utilise water from Dyangli River which runs across Marsyangdhi Rural Municipality in Lamjung.

According to Chairman of SNPL, Shailendra Guragain, the project will produce 235.46 Gigawatt/hours of electricity annually and the generated electricity will be channeled through the power house to 132 KV sub-station, 11 kilometres away, at Tarikuna in Marsyangdhi Rural Municipality.

“The project is slated for completion with in 3.5 years,” Guragain Said, “With the signing of financial closure, the bidding process has been initiated and it will conclude within 2 months.”

Prior to signing the financial closure, SNPL had signed the power purchase agreement with Nepal Electricity Authority on June 13, 2017.

[April 13, 2018 / thehimalayantimes.com]