NMB Bank-led consortium to finance Upper Solu

Published On: February 10, 2017 09:25 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, Feb 11: NMB Bank Ltd says it has successfully executed the financial closure of Upper Solu Khola Hydropower Project which has an installed capacity of 18 MW.

The project, being developed by Beni Hydropower Project P Ltd, is located in Beni and Tamakhani VDCs of Solukhumbu district. According to NMB Bank, it leads the consortium financing the project.

The consortium also includes Nepal Bangladesh Bank Ltd, Vibor Society Development Bank Ltd and Siddhartha Development Bank Ltd, the bank said in a statement. NMB Bank says the consortium has financed Rs 2.2 billion in the project which is estimated to cost Rs 3.27 billion.

“The financial closure of Upper Solu Khola Hydropower Project places NMB Bank as a fore runner in hydropower-project financing with a total of 30 projects in its hydro portfolio which have secured financial closure,” NMB Bank said.

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