Laxmi Sunrise Bank to Provide Loan Financing to 20 MW Upper Seti Hydropower Project
January 29, 2024 | Investopaper
Laxmi Sunrise Bank Limited has formalized a collaboration with Upper Seti Hydro Pvt. Ltd. through an agreement, with the purpose of financing the Upper Seti Hydropower Project.
The project, with an estimated project cost of NPR 4.02 billion, is promoted by KC group. Laxmi Sunrise Bank has committed to covering approximately 75 percent (about NPR 3.02 billion) of the total project cost, with the remaining 25 percent will be injected through equity by the promoters.
The company obtained the construction and generation license from the Department of Electricity Development on Magh 17, 2078 BS and subsequently secured a Power Purchase Agreement (PPA) with Nepal Electricity Authority on Ashwin 10, 2080 BS. The construction license is valid until Magh 16, 2013 BS.
Upper Seti Hydropower Project is a Run of river type project with an installed capacity of 20 MW. It is located in Machhapuchchhre Rural Municipality of Kaski District. The project will produce 113.51 GWh of electricity annually.
Suggested Readings:
List Of Hydro-power Projects Under Construction In Nepal
List Of Hydropower Projects In Nepal (Developed By Private Sector)
