Kathmandu. The 440-MW Tila-1 Hydropower Project to be constructed under the leadership of NMB Bank Limited in Kalikot has been completed.

In the Tila River of Kalikot, S.C. The total estimated cost of the project is Rs 59.40 billion. Of the total cost, Rs 44.55 billion will be invested by banks and financial institutions.

NMB Bank is one of the leading financial management enterprises. Global IME Bank, Himalayan Bank and Prabhu Bank are the co-lead banks. Other banks and financial institutions will also be investing in the project as part of the investment.

S.C. Power Company is led by Susan Karmacharya and her team. According to the license of the project, the installed capacity of the project is 440 MW.

As per the Power Purchase Agreement (PPA), the project will have to start commercial power generation from December 31, 2030.

The agreement was signed between Dinesh Dulal, Assistant General Manager of NMB Bank and S.C. Susan Karmacharya, president of the power company, signed the agreement.

According to the company, the project is the largest hydropower project so far in terms of installed capacity.

The project is expected to generate an income of Rs 11.4 billion in the first year of construction. According to NMB Bank, it has been investing in the project prioritizing environmental and social aspects.

The bank has been implementing the Environmental and Social Policy and Management System as per Nepal Rastra Bank’s Environmental and Social Risk Management Directives. According to the bank, the environmental, social and good governance aspects of the project have also been studied and evaluated.

In line with international best practices, the Hydropower Sustainability Tool developed by the Hydropower Sustainability Alliance (HSA) was used for the initial environmental, social and good governance testing.

NMB Bank has so far invested in more than 50 hydropower projects. The bank at present has been providing its services through 197 branches, 176 ATMs and 9 extension counters across the country.