September 30, 2021 | Investopaper
Multi Energy Development Pvt. Ltd. has completed the financial management for the construction of the 20 MW Langtang Khola Hydroelectric Project. A co-financing agreement was signed between the promoter company and the banks for this purpose.
In the leadership of Sunrise Bank, two other banks including Siddhartha Bank and NCC Bank will invest in the project. The estimated cost of the project is Rs 3.64 billion. The banks will provide a total loan of Rs 3 billion for the construction of the project. The remaining Rs 640 million will be injected by the promoters as equity.
The project aims to generate electricity by completing the construction within two and half years. According to the company, the project will generate 34.70 gigawatt-hours of electricity in winter and 98.6 gigawatts in the rainy season. Thus, the project will produce a total of 133.30 gigawatt-hours of electricity annually.
Langtang Khola Hydroelectric Project is being constructed in Gosainkunda Rural Municipality of Rasuwa district.