Kathmandu. The 44.52 MW Sanibheri Hydropower Project to be constructed by Expert Hydro Investment Company has been financed.

Various banks and financial institutions under the leadership of Citizens Bank are going to invest in the project. Citizen Bank will invest Rs 2.5 billion, Nabil Bank Rs 1.5 billion, Nepal Investment Mega Bank Rs 1.2 billion, Sanima Bank and Siddhartha Bank Rs 1 billion each ÷.

Mr. Santosh Raj Nepal, Managing Director of Expert Hydro Event and Mr. Ganesh Raj Pokharel, CEO of Citizens Bank signed the agreement on behalf of their respective organizations.

Managing Director Nepal informed that 25 percent of the project will be raised from self-capital and 75 percent from loan. The project to be constructed at Putha Uttarganga Rural Municipality-7 and 14 in Rukum East will be completed within 42 months.

The electricity generated from the project will be connected to the Bafikot substation. The project will generate 283.37 gigawatt hours of electricity annually. The project has already signed a power purchase agreement with Nepal Electricity Authority (NEA) on July 27, 2080 BS.