Kathmandu. NIBL Equity Partners has signed a memorandum of understanding (MoU) for an investment of Rs 150 million in Gurkhas Himalayan Hydro Limited. NIBL Equity Partners, which is registered as a Special Investment Fund (SIF) with the Securities Board of Nepal (SEBON) and managed by NIMB Ace Capital Limited, has invested Rs 150 million in Gurkhas Himalayan Hydro Limited.

Gurkhas Himalayan Hydro Limited is the promoter company of the 5.875 MW Upper Junbesi Khola Hydropower Project located in Solududhkunda Municipality of Koshi Province. The project is expected to generate 35.43 gigawatt-hours of electricity annually, of which 33 percent will be in the dry season.

The project has signed Power Purchase Agreement (PPA) with Nepal Electricity Authority (NEA) for the entire 5.875 MW power. The generated electricity will be connected to Tingla substation through a 33 kV transmission line.

Mr. Shivant Bahadur Pandey, Chief Executive Officer, NIBL Equity Partners, said, “This investment is a significant milestone in our portfolio. This reinforces once again our strategic goal of investing in small-sized hydro and clean energy. We firmly believe that projects like these will greatly contribute to local energy security and economic development. ”

“We are pleased to partner with NIBL Equity Partners at this crucial stage of the Upper Junbesi Khola Project. This partnership will further accelerate the construction of the project and help it be completed on time. Santosh Bhattarai, Managing Director of Gorkhas Himalayan Hydro Limited said, “We are confident that this collaboration will contribute to materializing Nepal’s long-term goal towards sustainable and clean energy, while also increasing reliable power supply in remote areas.” ”

75 percent of the construction work of the project has been completed. The project is expected to start commercial production from August 2027.

About NIBL Equity Partners

NIBL Equity Partners is a private equity initiative of NIMB Ace Capital, a subsidiary of Nepal Investment Mega Bank Limited. NIMB Ace Capital is one of the largest and active banking and capital markets institutions in the country.

The fund’s investment style reflects a fusion of experience and innovative thinking from two prestigious institutions. NIBL Equity Partners has been providing capital to high potential and fast-growing companies in Nepal. It also guides companies to build business acumen, sustainable value addition, and a complementary business ecosystem.

About Gorkhas Himalayan Hydro Limited

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Gorkhas Himalayan Hydro Limited is the developer of the Upper Junbesi Khola Hydropower Project in Solukhumbu. The company is led by experienced technical experts in the hydropower sector who have extensive experience in construction and consultancy of hydropower projects.