Kathmandu. Laxmi Sunrise Bank and Dudhkoshi Hydropower Nepal Pvt. Ltd. have signed a memorandum of understanding (MoU) to construct 70 MW (MW) project in Dudhkoshi River in Solukhumbu District. KATHMANDU: An agreement has been signed to invest in the Dudhkoshi-2 (Jaleshwor) Hydropower Project. The total cost of the project is Rs. 15 billion. This collaboration will play a significant role in the renewable energy landscape of Nepal.
The Dudhkoshi-2 (Jaleshwor) Hydropower Project had obtained permission from the Department of Electricity Development on September 20, 2020 and signed power purchase agreement with Nepal Electricity Authority (NEA) on November 20, 2021. The promoters of the company are Ayu Malun Hydropower Ltd., Kadam KC, Kiran Malla, Abhijna Malla, Bikram Gautam, Bikash Gautam, Arun Agrawal, Narendra Gupta, Dr. Himal Bhattarai and various private equity venture capitals.
The consortium under leadership of Laxmi Sunrise Bank has committed to bear 70% of the project cost and the remaining 30% will be contributed by the promoters of the company. Everest Bank is the co-lead bank and Sanima Bank is the member bank. It will be Rs 10.5 billion.
The project will be completed by July 2029 and will be connected to the national grid by approximately 417 GWh of energy annually and will be one of the largest independent power producers in the country.
