June 5, 2023 | Investopaper
Avasar Equity Diversified Fund (the “Fund”), Nepal’s first domestic Private Equity Fund registered with Securities Board of Nepal under the Specialized Investment Fund Regulation, 2019, has entered into an investment agreement with Him Parbat Hydropower Limited to invest Rs. 39.06 crore for developing two Run-of-river hydropower projects, namely Sagu Khola – 1 Hydropower Project (5.5 MW) and Sagu Khola Hydropower Project (20 MW) in Dolakha District, Bagmati Province, Nepal.
The Power Purchase Agreement for both the projects has been concluded on take-or pay basis. The total energy generated by both the projects is expected to be approximately 149 GWh per year.
The power generated from both the projects shall be connected to the national grid through the Singati Substation.
The Required Commercial Operation Date for both the projects is Chaitra 29, 2081 (i.e. April 12, 2025).
The investment by the Fund shall facilitate timely completion of the projects and contribute to fulfilling Nepal’s commitment to clean energy.