Lakshmi and Machhapuchhre Bank investing in Piluwa Khola Hydra

Kathmandu. Led by Laxmi Bank, Machhapuchhre Bank is going to invest in Piluwa Khola-3 Hydropower Project under co-financing. An agreement was reached between the two banks and Mabilung Energy on Monday.

The construction cost of the project is Rs. 93 crore 70 lakh. Banks will have 70 percent of the project cost and the remaining 30 percent will be the company’s own investment.

It will cost Rs. 39 crore 99 lakh of Laxmi Bank and Rs. 25 crore 60 lakh of Machhapuchhre Bank.

An agreement was reached between Mabilung Energy and Nepal Electricity Authority (NEA) on Chaitra 12, 2075 BS.

Mabilung Energy has been promoted by Asian Life Insurance Company, Guheshwari Merchant Banking and Finance and others, and SOCA President Rajesh Lal Shrestha.

With a generating capacity of 4.95 MW, Mabilung Energy aims to generate about 28,417 gigawatt-hours (GWH) of electricity annually and connect it to the national transmission line, and the project is expected to be operational by February 2022.