Nepal Breaking NewsBusinessLaxmi Bank will invest in the Midim-1 hydropower project (13.424 MW)

Laxmi Bank will invest in the Midim-1 hydropower project (13.424 MW)

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Laxmi Bank will invest in the 13.42 MW Midim Khola-1 Project, which is currently under construction in the Lamjung district. The bank has agreed to put money into the Mount Rasuwa Hydropower Pvt. Ltd. project.

The bank will lend 70 percent of the project’s cost and inject the 30 percent as equity.

On Karthik 3, 2077 BS, the Department of Development (DOED) granted the company a construction license for the project. The building permit is valid until Karthik 2, 2112 BS.

On 2074/02/10 BS, the Ministry of Energy (MoE) issued a survey license for the feasibility and environmental studies of the proposed project with an installed capacity of 16 MW. On BS 2076/05/20, the project’s installed capacity was from 16 MW to 13.4244 MW. The survey license was renewed on BS 2076/02/27 and is valid until BS 2077/02/09.

Mount Rasuwa Hydropower is developing the Midim Khola run-of- project in Bhujung, Bhoje, Maling, Uttarkanya (Lamjung).

The construction cost is estimated to be Rs 2.93 Arba. The construction is expected to be completed in two years, according to the company. The power will produce an annual average of 83.169GWh of energy. The proposed project’s power will be evacuated via a 132 kV single circuit 12 km transmission line in the NEA substation at Khudi Substation, Lamjung.

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