Construction of 128 MW Tamor-Mewa Hydroelectric Project Starts
May 24, 2024 | Investopaper
The foundation stone for the 128-megawatt Tamor-Mewa hydropower project, located in Aathrai Tribeni Rural Municipality and Phungling Municipality, has been laid, marking the beginning of the project.
Sanchakpal Maden, a member of Constituent Assembly and Bhanendra Kumar Limbu, president of Spark Hydro Electric Company Limited laid the foundation stone together on Thursday. Spark Hydro Electric Company Limited is the promoter of the project.
The company is developing the Tamor-Mewa Hydroelectric Project in Taplejung district in eastern Nepal. The proposed Tamor-Mewa Hydroelectric Project is located along the left bank of Mewa Khola and Tamor River.
Department of Electricity Development (DOED) provided the construction license to the company on Ashwin 25, 2077 BS for Tamor-Mewa Hydroelectric Project. The construction license is valid until Ashwin 24, 2112 BS.
The estimated cost of the project is Rs 24.32 billion. The electricity produced will be sold at Rs 4.80 per unit during the rainy season and Rs 8.40 per unit during the dry season.
The Project shall be financed through the debt and equity ratio of 75:25. Under the leadership of Kumari Bank, the BFIs will invest 75 percent of the cost in long term loans. The company will raise the remaining 25 percent through the equity. As this company is a public company, it will issue 20 percent share to the general public and 10 percent share to the project affected people. The promoter company will inject the remaining 70 percent equity.
The estimated annual income of this project is around Rs. 4 billion.
Suggested Readings:
List Of Hydropower Projects In Nepal (Developed By Private Sector)
