Lamjung, April 14

A consortium of six banks led by NMB Bank have agreed to invest 5.25 billion rupees in the under construction 40.27MW Super Nyadi Hydropower Project being developed in Lamjung’s Marshyangdi Rural Municipality.

Of the total investment of seven billion rupees, banks’ loan will account for 75 per cent. The remaining will be invested by the promoter company.

The plant will harness the water of Ngalikhola flowing between Marshyangdi, Ward number-6, Bahundanda and Ward number-7, Bhulbhule. Besides the NMB Bank, other banks investing in the project are Prabhu Bank, Mega Bank, Century Bank, NCC Bank and Kumari Bank.

According to the promoter company Siuri Nyadi Power Limited Chairperson Shailendra, Nyadi Group Power Limited would hold majority stake in the project.

Guragain said the project will produce 235.46gw power per hour. “The generated electricity will be linked to the 132kv substation in Khudi Tarikuna, Marshyangdi Rural Municipality-3,” he said, adding the project will be completed within three-and-a-half years.

Earlier, Nepal Electricity Authority and the project had signed a Power Purchase Agreement about a year ago, as per which the NEA will purchase the power generated from the project at Rs 8.40 rupees and Rs 4.80 rupees per unit during the dry and rainy seasons respectively.