Kathmandu, October 5: Two banks have reached an understanding with a hydropower company to jointly invest a total of Rs 3.25 billion in the Setikhola Hydropower Project to be built in the Kaski district. An agreement to this end was signed between Kumari Bank and Infrastructure Development Bank with Setikhola Hydropower Company, the promoter of the project, in the capital city on Sunday (October 4).
Kumari Bank and Infrastructure Bank would invest Rs 2 billion and Rs 1.25 billion respectively as loans in this 22 MW project.
The company has already signed the power purchase agreement (PPA) with Nepal Electricity Authority (NEA). According to the promoter company’s representative, the construction works of the project will begin from coming December.
