HIDCL To Invest In Middle Mewa Hydropower Project [73.5 MW]
March 24, 2022 | Investopaper
Hydroelectricity Investment and Development Company Limited (HIDCL) is to invest 20 percent equity in the Middle Mewa Hydropower Project being constructed in Taplejung by Mewa Developers Limited. For this purpose, an agreement was signed between Mewa Developers and HIDCL on Wednesday.
Middle Mewa Hydropower Project is a Peaking Run of River (PROR) type project with an installed capacity of 73.5 MW. The project is located at Mikhwa Khola & Meringden Rural Municipality of Taplejung district.
The company had signed Power Purchase Agreement with Nepal Electricity Authority in August 2018. Similarly, the Department of Electricity Development issued the generation/construction license for the project in January 2020.
The company has already concluded financial closure in November 2019 with Himalayan Bank Ltd. as a lead bank, Nepal Infrastructure Bank Ltd. as a Co-lead bank. Likewise, Kumari Bank Ltd., Nepal SBI Bank Ltd., NCC Bank Ltd., and Sanima Bank Ltd. will co-finance as member banks.
The project will generate 432.31 gigawatt-hours of electricity annually.
The company aims to complete the construction work of the project by October 2023,
Suggested Readings:
