KATHMANDU, May: Construction of the 42-megawatt Lapche Tamakoshi Hydropower Project in Bigu Rural Municipality, Dolakha, is now moving forward with a consortium led by NMB Bank financing over 70% of estimated project costs of Rs. 7 billion .
The consortium composed of Nabil Bank, Nepal Infrastructure Bank, and the Everest Bank, signed an investment agreement with Dynamic Hydro Energy Pvt. Ltd will invest Rs 5.25 billion in loans.
Dinesh Dulal, Chief of Sustainable Energy Banking at NMB Bank, and Mohan Bikram Karki, Chairman of Dynamic Hydro Energy, signed the Lapche Tamakoshi loan agreement.
NMB Bank also finalized financing for the 2 MW Chepe Khola Cascade Hydropower Project, covering Rs 340 million of the Rs 434 million estimated cost.
So far, NMB Bank has invested in over 50 hydropower ventures across Nepal.
Source: Republica
