The Nepal Goverment, thought the Department of Electricity Development, has announced that two hydropower projects to be developed in far-western Nepal have achieved the financial closure. Two consortiums have signed agreements to fund the construction of the plats with a US$111.4 million financing package.
One of the projects is the 15.33 MW Kalanga hydropower project located on the Kalanga River in Sukunda. The total project investment is estimated at Rs2.80 billion (US$41.7 million). Kalanga Hydro P LTd. is the project developer and the financing consortium includes: NMB Bank, NIC Asia Bank, Civil Bank, Janata Bank Nepal, Deva Bikas Bank and Jyoti Bikas Bank.
The second project comprises the Upper Kalanga hydroelectric project, which is currently under development by Sanigad Hydro Pvt. and has a projected capacity of 38.4 MW. This project involves a run-of-river plant with a gross head of 585.5 m, which is expected to generate around 219.3 GWh per year.
The total project investment is estimated at Rs4.74 billion (US$70.6 million). It will be financed by a consortium formed by Machhapuchre Bank, Rastriya Banijya Bank, Nepal Bank, NCC Bank, Sunrise Bank, Kumari Bank, Janata Bank and Civil Bank