The project with installed capacity of 24.1 MW is promoted by Consortium Power Developers (CPD).
CPD Chairman Lal Krishna KC and Machhapuchchhre Bank CEO Tulasi Ram Gautam signed an agreement for loan financing of Rs 2.94 billion amid a function held in the capital on Tuesday.
Nabil Bank and Everest Bank Ltd are co-leading the consortium of lenders which also includes Global IME Bank, Nepal SBI Bank, NCC Bank, Kumari Bank, Bank of Kathmandu, Siddhartha Bank and Nepal Bangladesh Bank Ltd.
The banks are funding 75 percent of the project cost which stands at Rs 3.92 billion. The remaining amount will be invested by the promoter company.
The hydropower project is located at Chankhu VDC of Dolakha. According to a study, the project is estimated to generate 139.22 million units electricity annually.
“Energy generated by the project will be connected to the national grid through a proposed Singati-based substation as per the Power Purchase Agreement (PPA) signed with NEA,” CPD Chairman Lal Krishna KC said. According to KC, constructions works on the project would begin soon.
The project aims to start generation within 2017.
All the required studies for the project like feasibility study, detailed project report, preliminary Environmental Impact Assessment (EIA) and detailed project design, among others, have already been completed.
CPD had signed PPA with NEA on November 2 last year. The Ministry of Energy had granted generation license to the project for 35 years, including the construction period, on May 18.
Main Project Features
|Annual energy generation||139.218 GWh|
|Dry Energy||23.271 GWh|
|Wet Energy||115.974 GWhr|
|Gross Head||343.85 m|
|Rated net head||332.02 m|
|Design discharge||8.43 m3/s|
|Earliest Construction start date||Jan. 2013|
|Estimated time of Commissioning||Dec. 2015|
|Time for preparatory works||18 months|
|Time required for construction||36 months|
|Concession Period||30 years