Universal Power Company ,a subsidiary of CEDB Hydro Fund has appointed Atlas Hydro Consortium (joint venture) as contractor to construct 11 MW Lower Khare Khola Hydro Power Project. The agreement was done yesterday ( Shrawan 20, 2073) to do the headworks for the construction of the hydropower project.
With this, the construction of 11 MW Lower Khare Khola Hydro Power Project has formally started. The hydropower project is located at Suri, Chankhu and Khare VDC of Dolakha district.
Power Purchase Agreement (PPA) has been already done for 11 MW Lower Khare Khola Hydropower Project. Bank of Kathmandu Lumbini Limited is the lead consortium for loan agreement.
Khare Investment Limited has 88% stake in Universal Power Company whereas CEDB Hydro Fund Limited has 100 percent stake in Khare Investment Ltd.
CEDB Hydro Fund has successfully constructed 4.4 MW Radhi Hydropower Project. Likewise, the company is constructing 12 MW Dordi-1Hydropower Project.
The company had offered preference share to general public in this project. With Rs 2.04 arba estimated investment, the hydropower is aimed to generate electricity by 2076 BS.
Source : Share Sansar
