GIBL leads financial closure for 166 MW Super Tamor Hydropower Project
The agreement was signed between the project developer, Crystal Power Development Pvt. Ltd., and a consortium of participating banks.
KATHMANDU: A two-party financial agreement has been signed under the leadership of Global IME Bank for the development of the 166 MW Super Tamor Hydropower Project, marking a significant step toward large-scale energy investment in Nepal.
The agreement was signed between the project developer, Crystal Power Development Pvt. Ltd., and a consortium of participating banks.
The signing ceremony was attended by CEO Surendra Raj Regmi of Global IME Bank, along with senior executives and representatives from the involved financial institutions.
The total estimated cost of the project stands at around NPR 25 billion, of which the banking consortium will finance approximately Rs 19 billion.
The consortium is led by Global IME Bank, with co-lead banks including Siddhartha Bank, Laxmi Sunrise Bank, and Prabhu Bank.
Other participating lenders include Agricultural Development Bank and Nepal SBI Bank.
Under the financing structure, Global IME Bank will invest Rs 5 billion, Siddhartha Bank Rs 4 billion, Laxmi Sunrise Bank Rs 4 billion, Prabhu Bank Rs 3.5 billion, Agricultural Development Bank Rs 1.5 billion, and Nepal SBI Bank Rs 1 billion.
Speaking at the signing ceremony, CEO Regmi expressed confidence that the project will be completed within the stipulated timeframe and will significantly contribute to increasing Nepal’s power generation capacity while supporting electricity export potential.
Located in Phaktanglung Rural Municipality of Taplejung district, the project is expected to be completed within five years from the start of construction.
The financing structure covers about 75% of the total cost through bank lending, while the remaining 25% will be managed through equity and other investors.
