Investment has been secured for the Lower Hewakhola Hydropower Project. Two commercial banks are set to invest a loan of Rs 981.7 million in the 6.84 megawatt capacity project to be built by Panch Khapan Hydropower Pvt. Ltd.

In the project, Siddhartha Bank will invest Rs. 500 million, while Rastriya Banijya Bank will provide a loan of Rs. 481.7 million. Of the total project investment, 70 percent will be financed through loans, and 30 percent will be invested by the promoters.

The total cost of the project is estimated at Rs. 1.4025 billion. According to the company’s chairman, Basanta Kumar Tamang, the project will generate 40.82 gigawatt-hours of electricity annually. The electricity produced from the project will be connected to the national grid through a 3.8-kilometer-long, 33 kV transmission line.

The promoter company has stated that the project, located in Panchthar District, has already begun construction and will be completed within the scheduled timeframe.

Kantipur