A consortium of 3 commercial banks, led by Sanima Bank Limited and participating Banks Nepal Credit and Commercial Bank Limited and Century Bank Limited., has signed Loan Facility Agreement for Rs. 1.475 billion with Makarigad Hydropower Pvt. Ltd., Nepal for the construction of 10 MW Makarigad Hydroelectric Project, on 25th April, 2018 in the presence of former minister Mr. Dilendra Prasad Babu and Parliament member of Darchula Mr. Ganesh Thagunna at Hotel Annapurna.
The project is promoted by Makarigad Hydropower Pvt. Limited; a joint venture of LTL Group Sri Lanka and Hydro Vision Company Pvt. Ltd. Nepal.
Makari Gad Hydroelectric Project is a high head, run of river (RoR) type project located in Api Himal Rural Municipality of Darchula District in State No. 7 of Nepal. The headworks of the project (Elev. 2315 masl) and the powerhouse (Elev. 1420 masl) are located at Khatti Village and Makarigad Gaun, respectively, of the same rural municipality. The annual energy production capacity of the Project is 70 GWh and will be evacuated by constructing a 27 km long 33 kv transmission line to the Balanch 132kV sub-station of Nepal Electricity Authority. The Project is scheduled to be commissioned by the end of 2019.
The promoters of the project will invest 30 percent of the Project Cost while remainder of 70 percent is funded by the above consortium of banks.