Kathmandu. Seven banks, led by Nepal Investment Bank, are set to invest in the Super Trishuli Hydropower Project. Under the leadership of Nepal Investment, Kumari Bank, Global IME Bank, Everest Bank, Himalayan Bank, Nepal SBI Bank and Nabil Bank will invest Rs 12.18 billion.
The loan agreement for the project was signed between Barun Saraf, executive director of Saraf Group and representatives of banks on Thursday.
The 100 MW project to be constructed by Blue Energy Limited is estimated to cost Rs 16.24 billion. The project will have 75 percent loan and 25 percent equity investment. The promoter company will invest 25 percent or Rs 4.61 billion in the project.
Super Trishuli, promoted by the private sector, is one of the few projects of less than 100 MW with loans from domestic banks and financial institutions. Earlier, a 160 MW private sector promoted project had recently raised investment.
The project is on the Trishuli River at Dosadha in Gorkha and Chitwan. The company has informed that the process of selection of civil and hydro-mechanical contractors for the construction of the project has reached the final stage. The main construction work is targeted to start by November 2021 and be completed within four years. The company has stated that a power purchase agreement (PPA) has been signed for the project.