Financial Closure Completed for Lower Hewakhola 'A' Hydropower Project

Kathmandu; The financial closure of the Lower Hewakhola ‘A’ Hydropower Project has been completed. The 6.848 MW project, promoted by Panch Khapan Hydropower Pvt. Ltd., is being developed in Chainpur areas of Sankhuwasabha district.

The estimated cost of the project is NPR 1.4035 billion. This is going to be financed with bank loans and equity investment in the ratio of 70:30. Under this, Siddhartha Bank will invest NPR 500 million, while Rastriya Banijya Bank will provide NPR 481.7 million, according to a loan agreement signed on Sunday.

The agreement was signed by Amit Shrestha, the head of credit at Siddhartha Bank; Damodar Gyawali from Rastriya Banijya Bank; and Basant Kumar Tamang, Chairman of Panch Khapan Hydropower Pvt. Ltd.

The company is planning to complete the project by April 2027. The electricity generated will be connected to 33 kV Baneshwar Substation of NEA.

The signing ceremony was attended by Rameshwar Prasad Basyal, Deputy Chief Executive Officer of Siddhartha Bank Limited, and Udaykant Jha, Director of Panch Khapan Hydropower Pvt. Ltd.