NMB Bank executes financial closure for two hydro projects

NL Today

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Kathmandu: NMB Bank has executed financial closure of Super Kabeli Khola ‘A’ Hydropower Project and Super Kabeli Khola Cascade Hydropower Project.

The Kabeli Khola is the project with the capacity of 13.5 MW and Super Kabeli with 12 MW capacity. Both the projects are located at Sirijangha Rural Municipality in Taplejung.

The financial closure agreements of both projects have been signed with lead financing from NMB Bank Limited and Rastriya Banijya Bank Limited as Member Bank. Nepal Electricity Authority (NEA) has already facilitated for the construction of project by signing Power Purchase Agreement (PPA) with both companies. Rs 1.89 billion and Rs 1.67 billion shall be financed by Consortium Banks for the development of Super Kabeli Khola and Super Kabeli Khola respectively.

As NMB Bank heads the signing agreement as a lead facilitator of debt package in hydropower project financing, it now rests with a total number of 43 projects in its hydro portfolio, the bank said in a statement.