June 4, 2023 | Investopaper
Seti River Hydropower Project, under construction in Machhapuchhre rural municipality of Kaski, is nearing completion, with 90 percent of the work finished. Vision Lumbini Energy Company Limited began construction of the project in Bhadra, 2077 BS.
The civil, hydro mechanical, electro mechanical, and transmission line aspects of the project are in their final stages.
Jagat Bahadur Pokharel, executive chairman of Vision Lumbini Energy Company, expressed confidence that the project would be completed on schedule, with electricity production commencing in Mangsir, 2080 BS.
The deadline for the project is set for Shrawan 2081 after the extension by a year due to delays caused by the COVID-19 pandemic.
The project has received investment from 1,500 promoters. The total cost of the project is Rs. 5 billion. About 70 percent of the total cost of the project has been raised from banks and financial institutions and the remaining 30 percent (Rs. 1.5 billion) is being injected through equity. NMB Bank is providing loan financing of Rs. 2.20 billion, Employees Provident Fund Rs. 800 million and Agriculture Development Bank Rs. 500 million in the project.
The electricity generated from the Seti River Hydropower Project will be connected to the Lahachok substation through a 132 kV 4 km transmission line to the Nepal Electricity Authority’s national transmission line.
The project will issue shares to locals and general public through IPO after power generation.