The Asian Development Bank (ADB) said it would provide a grant assistance of more than Rs 2 billion for generating 25 megawatts solar power.

The ADB has declared to provide the amount from the Climate Fund for the promotion of solar energy in view of energy needs and demand.

Organising a news conference here today, the ADB stated that the grant would be provided to the power developers concerned through the Nepal Electricity Authority with the objective of generating 25 megawatts power by 2018.

The ADB country director for Nepal, Kenichi Yokoyama, said that the decision to provide the grant assistance from the Climate Fund was made to promote and encourage the private sector participation in solar energy production.