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ADB to provide fund for Hydropower Plant in Nepal

Power News - Published on Fri, 08 Nov 2019

Image Source: adb.org
The Asian Development Bank has signed a USD 60 million financing package with Nepal Water and Energy Development Company Private Limited to help build and operate a 216 MW run of the river hydropower plant on the Trishuli River near the capital, Kathmandu. The financing comprises a loan from ADB and a loan from the ADB-administered Canadian Climate Fund for the Private Sector in Asia II. CFPS II was established by the Government of Canada to encourage private investment in climate change mitigation and adaptation projects in Asia and the Pacific. CFPS II funding was integral to the project’s financial viability as it helped attract private capital currently unavailable in the market.

ADB is cofinancing the project with other multilateral development banks and development finance institutions including the International Finance Corporation; Export–Import Bank of Korea; Korea Development Bank; Asian Infrastructure Investment Bank; Commonwealth Development Corporation; Nederlandse Financierings-Maatschappij Voor Ontwikkelingslanden N.V.; OPEC Fund for International Development; and Société de Promotion et de Participation pour la Coopération Economique S.A.

Once operational, the plant is expected to provide over 1,200 gigawatt-hours of clean electricity annually to the national grid. The project is aligned with ADB’s operational priorities outlined in Strategy 2030, notably to eradicate remaining poverty; reduce inequalities; tackle climate change; build climate and disaster resilience; and enhance environmental sustainability.

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Posted By : Rabi Wangkhem on Fri, 08 Nov 2019
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