KATHMANDU, Jan 7: Banks and financial institutions have committed to invest a total of Rs 26 billion in two major hydropower projects in Nepal.
The 49.95 MW Danakhola Hydropower Project, promoted by Lalu Pate Hydropower Company, secured Rs 9.96 billion in investments, with Rs 740 million of the shares earmarked for project-affected locals. The remaining Rs 1.74 billion will be invested by the operators and promoters.
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Additionally, Rs 16 billion has been secured for the 102 MW Upper Marsyangdi Hydropower Project in Lamjung, with Laxmi Sunrise Bank, Global IME Bank, and Prabhu Bank contributing to the funding. The project, costing Rs 21.4 billion, is expected to generate 583.03 gigawatt hours annually and is expected to be ready within four years.
The successful financial management of these projects marks significant progress in Nepal's hydropower sector, with 20 projects already having completed their financial arrangements.
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