Kathmandu. Kumari Bank has signed a financial loan agreement for the construction of 61.11 Mogawatt Nar Khola Hydropower Project in Manang. The bank’s Chairman Batu Lamichhane and Kumari Bank’s Chief Regional Credit Officer Arpan Pokharel signed the agreement on behalf of their respective organizations.
A 61.11 MW hydropower project has been initiated by integrating water from Narpa land of Manang and Nar Khola and Soti Khola of Naso rural municipality. Narkhola Hydro Energy Pvt Ltd, the promoter company of the project, said that all the processes for the construction of the project have been completed.
The project has already signed a Power Purchase Agreement (PPA) with Kumari Bank co-led by Nepal SBI Bank with Agriculture Development Bank, NIC Asia Bank and Muktinath Bikas Bank as its member bank.
The project will have a grace head of 588.82 meters and will generate 366.48 GW of electricity annually. The headrace tunnel of the project is approximately 8 kilometers. The dam and headwork structures of the project will be located in Narpa Bhumi Rural Municipality and electricity will be generated from the dam site through a penstock pipe through a tunnel passing through Narpa land and Naso rural municipality. The electricity generated from the project will be connected to Nepal Electricity Authority’s under-construction Dharapani substation at Manang.
The total cost of the project is Rs 12.84 billion and the bank’s loan is Rs 9.63 billion and its capital is Rs 3.21 billion.
