Citizens Bank To Lead Consortium Financing For 38 MW Upper Ankhu Khola Hydropower Project

September 30, 2021 | Investopaper

Dhading Ankhu Khola Hydro Pvt. Ltd. has completed the financial management for the construction of the 38 MW Upper Ankhu Khola Hydropower Project. A co-financing agreement for financial management was signed between the promoter company and the investor banks on Tuesday. In the leadership of Citizens Bank International, four other banks including Nepal SBI Bank, Nepal Bangladesh Bank, Mega Bank Nepal, and Civil Bank will invest in the project. 

The banks in total will provide a loan of Rs 5.50 billion for the construction of the project. This is about 75 percent of the total estimated cost of the project of Rs 7.33 billion. The remaining 25 percent will be financed through equity.

The target is to generate electricity by completing the construction of the project within four years. According to the company, the project will generate 66.70 gigawatt-hours of electricity in winter and 152.43 gigawatts in the rainy season, generating 219.13 gigawatt-hours of electricity annually.

After the completion of construction, the electricity generated from the project will be connected to Nepal Electricity Authority’s Trishuli 3B hub substation in the Nuwakot district.

Upper Ankhu Khola Hydropower Project is being constructed in Rubi Valley Rural Municipality and Khaniyabash Rural Municipality of Dhading district. 


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