Nepal Breaking NewsBusinessBank of Kathmandu is planning to invest in the Upper Ingwa Khola...

Bank of Kathmandu is planning to invest in the Upper Ingwa Khola Hydropower Project (9.7 MW)

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The Upper Ingwa Hydropower Project be financed by the Bank of Kathmandu Limited. On 31, 2078 BS, the bank and the promoter company Ingwa Hydopower Pvt. Ltd. signed a contract.

The Upper Ingwa Khola Hydropower Project, with a 9.7 MW installed capacity, will generate electricity from the Ingwa Khola in Taplejung. The 9.7 MW Upper Ingwa Hydropower Project is expected to Rs. 1.95 billion. The project will be funded with a loan of 75% and equity of 25%. As a result, BOKL will lend Rs 1.46 billion to the project. The remaining funds will be used to inject equity.

The project is being built by Ingwa Hydropower in the villages of Yangbarak and Sidingba in the Taplejung and Panchthar districts.

The generated electricity will be connected to the Amarpur substation once the project is completed. The company will build a 16-kilometer-long 33-kV line to the substation.

The Department of Electricity has already granted Ingwa Hydopower Pvt. Ltd. a construction license the project (DOED). The department issued a construction license that was valid from Karthik 28, 2077 BS to Karthik 27, 2112 BS.

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