Kathmandu. NMB Bank to invest Rs 1.24 billion in Khimti Ghwang Hydropower Project

Wonders Energy Pvt. Ltd. NMB Bank Limited (NMB Bank) has signed a loan agreement of Rs 1.24 billion for the construction of 9 MW Khimti-Ghwang Small Hydropower Project. The agreement was signed by Dinesh Dulal, Head of Sustainable Energy Banking Department of the bank and Prakash Chandra Dulal, Managing Director of the company.

The company is developing Khimti-Dhwang Hydropower Project in Jiri Municipality-1 of Dolakha and Gokulganga Rural Municipality-1 of Ramechhap District. Dulal said that the construction work of the project is going on with the aim of completing it by Chaitra 2084 BS.

The Cabinet on April 29 had already decided to acquire government land and permit trees for the project. All the land required for Iona, construction of power connection, construction of access road, warehouse, residential house, etc. have been completed.

According to the company, 30 percent of the work has been completed so far after the signing of the contract for the construction of Sawili, Hydro Mechanical and Electro Mechanical. The bank has signed an agreement to invest Rs 1.24 billion out of the total cost of Rs 180 million for the project.

Dulal said that out of the remaining Rs 56 crore, Rs 35 crore has been collected and work is underway to raise Rs 30 crore by mid-October. According to him, the project will be the first hydropower project to be constructed in the Gaurishankar Conservation Area by following the hydro select tools and meeting the social and environmental standards.