In the first phase of the project, the funding will support the design, construction and operation of 25MW of solar farms, which will supply power to the Nepal Electricity Authority’s (NEA) distribution network.
The second phase will involve the creation of a ‘distribution loss reduction master plan’ and the implementation of loss reduction projects in various NEA areas.
“Reliable electricity is crucial for Nepal to achieve its full growth potential,” said Takuya Kamata, the World Bank’s country manager for Nepal. “This project will not only address short-term measures of introducing solar power generation into the system but will also contribute to reduction of distribution losses.” The credit carries a six-year grace period and a maturity of 38 years. |