Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 115]
Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 115]
Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 116]

Financial closure of Upper Solu Hydropower Project

  1 min 16 sec to read
Financial closure of Upper Solu Hydropower Project
Notice (8): Undefined index: caption [APP/View/Articles/view.ctp, line 241]

January 31: The financial closure of 18MW Upper Solu River Hydropower project has been signed on Monday, January 30. Under the headship of Beni Hydropower Project, the promoter of the project and NMB Bank, an agreement regarding the financial assistant to the project was carried out among four BFIs. Apart from NMB Bank, Vibor Society Development Bank, Siddhartha Development Bank and Nepal Bangladesh Bank are providing consortium loan to the project.

The project was started without bank investment due to which it was halted by Commission for the Investigation of Abuse of Authority (CIAA). But now, after completing all the legal procedure, the project is being forwarded. The promoter of the project Beni Hydro will invest 30 per cent of the total investment projected of Rs 3.27 billion while the remaining investment of 70 per cent amounted to Rs 2.20 billion will be made by the banks.

The project is resided at Beni, ward no 4 of Dudhkunda Municipality of Solukhumbu District. The generated electricity will be connected to the Nepal Electricity Authority (NAC) substation in Lamane by constructing 11KM long 132 KVA transmission line. The project developers expect of easy passage to the electricity generated due to the under construction transmission line in Solu Corridor.

The project which was halted during the construction process has already concluded the initial environment assessment (IEA) and power purchase agreement (PPA).  The developer expects to conclude the project within January 15, 2020. 

Deprecated (16384): Using key `action` is deprecated, use `url` directly instead. [CORE/Cake/View/Helper/FormHelper.php, line 383]
No comments yet. Be the first one to comment.