28.1-MW Lower Likhu hydropower project in Nepal receives funding

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    The Dolma Impact Fund has invested US$3.2 million in equity investment in the 28.1-MW Lower Likhu hydropower project being developed by Swet Ganga Hydropower and Construction Public Ltd. (SGHCPL).

    Dolma Impact Fund confirmed the investment on Aug. 22. The organization is a private equity fund that lists its headquarters at Ebene, in the Republic of Mauritius, an archipelago located in Southern Africa in the Indian Ocean, about 560 m east of Madagascar.

    The project’s estimated cost is about Rs 5 billion (US$78.1 million) and according to the Dolma Fund, this latest investment is in addition to a previous $26 million investment commitment to Nepal.

    The project was granted a generation license in Dec. 2016 from the government of Nepal and construction on the project has already begun, located in the village of Bijulikot in the Janakpur Zone of northeastern Nepal.

    According to MyRepublica, earlier this month Tim Gocher, Dolma Impact Fund founder who has operated the fund for the past 11 years, received a certificate of 3.2 million units of shares from Binay Kumar Shrestha, SGHCPL chairman.

    In March 2016, the fund invested $1.13 million in 6.4-MW Suri Khola hydropower project located in Dolakha.

    Nepal is also securing investment for hydropower development from other organizations.

    In June, the Asian Infrastructure Investment Bank (AIIB), assured Nepal it will finance two projects, each costing about $156 million through soft loans, according to the government of Nepal’s Finance Minister, Gyanendra Bahadur Karki.

    According to Nepal, it wants AIIB financing for the 87-MW Tamakoshi V hydropower facility to be developed from the tailrace of the 456-MW Upper Tamakoshi hydropower project in Dolakha and a development of the 93-MW Sharada-Babai hydropower project in Salyan and Dang districts.

    March saw movement on several hydro projects in Nepal.

    Construction of Nepal’s 36.6-MW Kabeli A hydroelectric plant is under way, following the laying of a foundation stone the week of March 19. The project is located on Kabeli River between Nepal’s eastern Panchthar and Taplejung districts.

    On March 23, China-based Zhejiang Hydropower Construction and Installation Co. began construction of the civil, hydro-mechanical and electro-mechanical works for the 30-MW Nyadi hydropower project on Nyadi River at Bahundanda of Lamjung. Nyadi Hydropower Ltd., a joint venture between Butwal Power Co. (BPC) and Lamjung Electricity Development Co. (LEDCO), is the project developer.

    The estimated cost of this project is $91.8 million and BPC has a 97.22% stake in the joint venture, while LEDCO has 2.78%. According to the developer, the plant is expected to begin commercial operation in 2020.

    Source : HydroWorld