Investment MoU signed for 90 MW Marsyangdi Semi-Reservoir Hydropower Project
The agreement was formalized on Baisakh 31, under the leadership of Kumari Bank Limited.
KATHMANDU: An investment agreement has been signed for the construction of the 90-megawatt Marsyangdi River Semi-Reservoir Hydropower Project, to be developed by M.A. Power Pvt. Ltd.
The agreement was formalized on Baisakh 31, under the leadership of Kumari Bank Limited.
The signing ceremony took place in the presence of Anup Acharya, Chair of M.A. Power Pvt. Ltd., and Kshitiz Khadka, Chief Business Officer of Kumari Bank Limited.
The project will be developed with a syndicated loan investment totaling Rs 15.1875 billion from several financial institutions.
These include Kumari Bank Limited, Prabhu Bank Limited, Siddhartha Bank Limited, Agricultural Development Bank Limited, Sanima Bank Limited, Employees Provident Fund, Garima Bikas Bank Limited, Lumbini Bikas Bank Limited, and Shangrila Development Bank Limited.
According to the bank, equity investment will come from Anup Acharya, Haribabu Neupane, and Deepak Baral. Additionally, Dolma Impact Fund is expected to hold up to 49% of the company’s promoter shares, as stated by the company’s chairman.
The same group is currently in the final phase of constructing the 22 MW Setikhola Hydropower Project through Setikhola Hydropower Limited.
A Power Purchase Agreement (PPA) with the Nepal Electricity Authority (NEA) was signed on Kartik 1, 2080, and the commercial operation date has been set for Baisakh 22, 2086.
The Environmental Impact Assessment (EIA) report for the project is in its final approval stage with the concerned authorities, according to the company.
Electricity generated from the project will be evacuated through a 220 kV single-circuit transmission line over a distance of 11.6 kilometers, connecting to NEA’s Markichowk substation at 220/132 kV.
