Citizen Bank Plans to invest 1.29 billion in 10MW Siddikhola 

Kathmandu: Citizen Bank International has planned to invest a 1.29 billion rupees loan in Siddi Khola hydroelectric project. Bank set to provide a single loan for the advancement of the Siddi Hydropower Company. 

An agreement has been reached to secure 1.29 billion and 75 thousand loans in the project. On behalf of the bank, head of consortium of Infrastructure banking unit Roshan Malla and the Managing director of company SantoshRaj Chalise has signed the agreement. 

Citizen bank will share the 75% of total investment.  To complete the project, 1.73 billion rupee (without construction period) has been estimated as the cost of the project for completion.    

The project will be financed 75% loan investment and 25% equity investment. The promoter company will pay the rest of the cost including the interest for the construction period. 

The company targets to complete the project within 3 years and generates electricity. After the completion, the project will generate 8.80GWH in the dry season and 46.911GWH in the wet season, resulting in annual electricity production of 55.71GWH.  The generated electricity will be connected to the Fikkal Substation of Nepal Electricity Authority, which is located approximately 16km from the project.