February 4, 2019 09:10 AM NPT
KATHMANDU, Feb 4: Parbat Paiyunkhola Hydropower Company Pvt Ltd has achieved financial closure to build Setikhola Small Hydropower Project (3.5 MW) in Parbat district.
According to a company statement, Siddhartha Bank Ltd and Garima Bikas Bank Ltd are financing the project based in Bihadi Rural Municipality.
“Raj Kumar Basyal of Parbat Paiyunkhola Hydropower Company, and Chandan Karki of Siddhartha Bank and Madhav Acharya of Garima Bikas Bank signed the agreement during a signing ceremony held in Kathmandu on Sunday,” reads a statement issued after the signing ceremony.
Siddhartha Bank Ltd is the lead financer of the project.
Construction works in the project site have already begun, Basyal told Republica. According to him, the project aims to start generation by the end of 2076 BS.