Rastriya Banijya Bank Limited has decided to invest in the Super Machha Khola Hydropower Project.
On Friday, the bank signed a loan investment agreement for the 4.6 MW project, which will be built in Laprak, Dharche Rural Municipality-4, Gorkha. Chairman Khagendra Nyaupane of Budhigandaki Hydropower Pvt. Ltd. and CEO Devendra Raman Khanal of Rastriya Banijya Bank signed the agreement on behalf of their respective organizations.
The project will cost Rs 963.83 million, with 70 percent financed through a loan and 30 percent through equity investment. The promoter company stated that Rastriya Banijya Bank will invest Rs 674.68 million in loans, while the company will provide the remaining Rs 289.15 million through equity investment.
The project is expected to generate 27.379 GW of electricity annually, with 18.621 GW produced during the monsoon and 8.75 GW in the winter.
An experienced team, led by Chairman Khagendra Nyaupane, Managing Director Krishna Prasad Ghimire, and Directors Saroj Dhital, John Ghale, Indra Bahadur Dhakal, and Binod Thapa, is overseeing the project’s construction. The team previously completed the 4.55 MW Bikash Hydropower Project in the same region six months ahead of schedule.
The company has signed an electricity purchase agreement with the Nepal Electricity Authority on July 6, 2023, and has completed the Detailed Project Report (DPR). The project’s transmission line will be connected to Development Hydropower and linked to the Salyantar Substation in Dhading.
Additionally, the company is preparing to transition into a public limited company and plans to issue shares to the general public within the next six months. The project is expected to be operational within the next 18 months.
