The financial closure of the 285 MW Upper Tamor Hydroelectric Project, the largest project undertaken by the domestic private sector, has been achieved. The consortium of bank led by Everest Bank signed the loan agreement with the project developer Tamor Energy Private Limited on June 6. Apart from Everest Bank, Agricultural Development Bank, Rastriya Banijya Bank, Prabhu Bank, Laxmi Sunrise Bank, Nepal SBI Bank, Garima Bikas Bank and HIDCL will be financing this semi-reservoir project. The estimated total cost of the project, including interest during the construction period, amounts to Rs 55.15 billion. Of this total, Rs 16.55 billion will be raised through equity, while the remaining Rs 38.60 billion will be financed under the leadership of Everest Bank.

During the loan signing program, Pushpa Jyoti Dhungana, chairman of Tamor Energy said that the construction of Tamor represents a significant milestone for Nepal's energy sector, marking the largest hydropower project undertaken by the domestic private sector. Everest Bank CEO Sudesh Khaling emphasized that this agreement underscores the capability of indigenous banks to invest in large hydropower projects. He expressed confidence that this initiative will inspire other banks to participate in similar major projects. "We are prepared to invest in the energy sector. Efforts should be made to mobilize investments from domestic and alternative sources," Khaling stated. The project is projected to generate 1.47 billion units annually, with 1.3 billion units during the rainy season and 446.2 million units during the dry season.