Thursday, October 15, 2020

Financial closure of Seti Nadi Hydroelectric Project

 NMB Bank has successfully completed financial closure of Seti Nadi Hydroelectric Project.

The project – with an installed capacity of 25 MW – is being developed by Vision Lumbini Urja Company. The project – located at Machhapuchchhre Rural Municipality and Pokhara-Lekhnath Metropolitan City, Kaski, Gandaki Province – is estimated to cost Rs 5 billion, out of which Rs 3.50 billion has been managed by the consortium debt.

The financial closure agreement was signed today with lead financing from NMB Bank and Employees Provident Fund (EPF) and Agricultural Development Bank as member bank and financial institution, according to a press note issued by the NMB Bank. “Nepal Electricity Authority (NEA) has already signed power purchase agreement (PPA) with the company.”

NMB Bank now has a total number of 43 projects in its hydro portfolio, the press note adds.

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