Under the leadership of Agricultural Development Bank and the co-leadership of Citizens Bank, Prabhu Bank, Laxmi Sunrise Bank, Shangrila Development Bank, and Hydro Hydro Electricity Investment and Development Company will make the investment.

Investment has been secured for the 47.7-megawatt Kalika Kaligandaki Hydropower Project promoted by Maulakalika Hydropower Company. Under the leadership of Agricultural Development Bank and co-leadership of Citizens Bank, Prabhu Bank, Laxmi Sunrise Bank, Shangrila Development Bank, and Hydroelectricity Investment and Development Company will be investing in the project.

The total estimated cost of the project is NPR 10.15 billion. Of this, 75 percent - i.e., NPR 7.6 billion - will be financed by banks. The remaining 25 percent will be invested by the promoters themselves. The goal is to complete the construction by the year 2084 BS (2027/28 AD). According to the company, a dam will be built on the Kaligandaki River, which flows between Tanahun and Nawalpur, and the power house will be located just below the dam. The company stated that it will use 300.22 cubic meters of water per second and generate electricity by dropping the water from a height of 19.74 meters.

The electricity generated from the project will be connected to the Nepal Electricity Authority’s 220/132 kV New Bharatpur Substation located at Aamptari in Bharatpur. Energy Secretary Suresh Acharya stated that Maulakalika Hydropower Company has contributed to achieving the government’s goals by investing in the energy sector. “The energy roadmap has set a target of producing 28,500 megawatts by 2035,” he said, “and by investing, banks have also supported the government’s goal.”

The electricity generated from the project will be connected to the Nepal Electricity Authority’s 220/132 kV New Bharatpur Substation located at Aamptari in Bharatpur. Energy Secretary Suresh Acharya stated that Maulakalika Hydropower Company has contributed to achieving the government’s goals by investing in the energy sector. “The energy roadmap has set a target of producing 28,500 megawatts by 2035,” he said, “and by investing, banks have also supported the government’s goal.”

Dhital stated that large projects in Nepal often do not get completed on time and tend to take many years. He also claimed that regulatory mechanisms would be made stable in a way that promoters would have no doubts. He mentioned that the commission is currently studying the tariff rates for pumped storage and will hold discussions with the promoters as well. Krishna Prasad Subedi, the chairman of the company, said that this is not just an energy project but also aims to promote development in tourism, agriculture, and physical infrastructure.

Source: Kantipur