Citizens Bank International has led a consortium of banks to finance Rs 7.50 arba for the 50 MW Marsyangdi Besi Hydropower Project in Lamjung.
Consortium Loan Agreement Signed
A loan investment of Rs 7.50 arba has been secured for the construction of 50 megawatt Marsyangdi Besi Hydropower Project located in Lamjung. The consortium loan agreement was signed between the investing banks and developer Divyajyoti Hydropower under leadership of Citizens Bank International.
Project Cost and Timeline
The total estimated cost for this project is Rs 11.30 arba. Out of this total cost, 67 percent will be funded through bank loans while the remaining 33 percent will be covered by equity. The developer aims to completing the project construction within next four years.
Once finished, the project will generate 312.602 gigawatt hours of electricity annually. The power generated from this project will be connected to Udipur substation of Nepal Electricity Authority.
Citizens Bank’s Hydro Investment Portfolio
According to Citizens Bank, they have already completed 16 hydropower projects with total capacity of 274.401 megawatt till now. Additionally, there are 26 other projects with total capacity of 1,330.825 megawatt which are currently under construction with the bank’s investment.
AI Disclaimer: This article was originally published on https://bajarkochirfar.com. It has been translated with the help of AI. For the best understanding and accurate facts, we recommend reading the original Nepali version.
