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The breakthrough of Adit-1 tunnel has been achieved at the 66.3 MW Middle Kaligandaki Hydropower Project, which is under construction in Annapurna Rural Municipality of Myagdi. On the underground structure side of the project, Audit-1 has been successfully connected to the Head Race Tunnel (HRT) alignment.

The breakthrough of Adit-1 was completed by Hydro Support Pvt. Ltd., a company under the IME Group. Angel Engineering Consultant Pvt. Ltd. is serving as the project consultant, while Rasuwa Multi JV is the main contractor. According to the company, construction of the headworks, powerhouse main access tunnel, tailrace tunnel, and access road towards the surge shaft is currently progressing simultaneously.

It has been stated that NPR 97.024 million has been allocated for social responsibility and environmental impact mitigation during the hydropower project construction. The project is expected to be completed within four years from the start of construction. The estimated total cost for completing the project is NPR 12.936475 billion.

Seventy-five percent of the project investment has been arranged through debt financing and 25 percent through equity. The equity portion will be invested by the IME Group and the general public. Under co-financing arrangements, the participating banks will invest NPR 11.12 billion in loans, including interest during the construction period.

Of the total loan amount, Nabil Bank will contribute NPR 3.12 billion; Everest Bank and Nepal Investment Mega Bank will each invest NPR 2 billion; while Nepal Bank, Rastriya Banijya Bank, and Prabhu Bank will each provide NPR 1 billion.

The project’s powerhouse will be underground. Wards 2, 3, 4, 5, and 6 of Annapurna Rural Municipality will be affected during construction. The project includes a 4,319-meter-long tunnel. Upon completion, the generated electricity will be connected to the national transmission line through the substation located at Dana in Annapurna Rural Municipality–3.

As per the Power Purchase Agreement (PPA) with the Nepal Electricity Authority, the winter tariff has been fixed at NPR 8.40 per unit and the monsoon tariff at NPR 4.80 per unit. Based on these rates, the project is expected to generate NPR 1.09 billion in revenue from 130 GWh of electricity during winter, and NPR 1.33 billion from 277 GWh during the monsoon season. In total, the project will produce 407 GWh annually, generating an estimated annual revenue of NPR 2.42 billion.

Urjasanchar