Investment has been secured for the 90-megawatt semi-reservoir hydropower project on the Marsyangdi River.

The financial management for the project, which flows through the three districts of Gorkha, Lamjung, and Tanahun, has been finalized with an investment of 10.5 billion rupees, led by Kumari Bank.

The investment agreement was signed on Friday. In the presence of MA Power Chairman Anup Acharya and Kumari Bank CEO Ram Chandra Khanal, a loan agreement was signed between Kumari Bank, Prabhu Bank, Agriculture Development Bank, and Siddhartha Bank.

According to the company, the project is estimated to cost NPR 20.25 billion, including interest during the construction period. Of this, 75% will be financed through loans, while 25% will be equity investment.

In this project, Kumari Bank will invest NPR 4 billion, Prabhu Bank NPR 3 billion, Siddhartha Bank NPR 2 billion, and Agriculture Development Bank NPR 1.5 billion. The equity investment will be provided by Anup Acharya, Haribabu Neupane, and Deepak Baral.

The company stated that Dolma Impact Fund has also shown interest in investing in this project. The group’s 22-megawatt Seti Khola Hydropower project is currently in its final stage of construction.

The power purchase agreement for this project was signed with the Nepal Electricity Authority on 1st Kartik 2080 (October 18, 2023). The project is planned to start production on 22nd Baisakh 2086 (May 5, 2029).

Source: Online Khabar