सिंहदरबार संवाददाता
Kathmandu. ABP Energy Pvt. Ltd. and Siddhartha Bank Limited have signed an agreement for credit facilities for the construction of the 8 MW Tadi Ghyangphedi Hydropower Project.
The agreement was signed by ABP Energy Chairman Purnalal Shrestha and Siddhartha Bank Credit Head Amit Shrestha at a program organized in Kathmandu on Wednesday. The total estimated cost of the project is Rs 1.64 billion. The company’s Chairman Purnalal Shrestha informed that an agreement has been reached with Siddhartha Bank to manage Rs 1.23 billion, which is 75 percent of the total cost, through long-term loans.
The remaining 25 percent amount will be managed from equity. This project is being developed by a group of experienced promoters. The company’s directors include Balram Khatiwada, general secretary of the Independent Power Producers Association of Nepal (IPPAN), and information technology luminary Asgar Ali.
Shreshtha is the chairman of Buddhabhoomi Hydropower Limited, which is operating in Nuwakot, and is also associated with Atlas Energy and Happy Energy. Similarly, Khatiwada is also the chairman and director of ABP Energy as well as companies that have already come into operation, including Buddhabhoomi Hydropower, Barah Multipower, Atlas Energy. Asgar Ali is the information technology advisor to Prime Minister KP Sharma Oli.
The Tadi Ghyangphedi Hydropower Project, located in Dupcheshwor Rural Municipality of Nuwakot, is targeted to be completed within 18 months. The project’s commercial electricity production date (RCOD) has been set for Baisakh 31, 2084.
Balram Khatiwada, General Secretary of IPPAN and Project Director, said that the project aims to generate income from hydro tourism after the project is operational. Khatiwada said that since the project will be built on the trekking route to Gosainkunda, the camp houses built by the project can be converted into homestays and provide hospitality facilities to tourists.
The production license for this project was received from the Department of Electricity Development (DOED) on Asad 31, 2078. The Power Purchase Agreement (PPA) was concluded on Bhadra 27, 2078. The project, which has a 3900-meter pipeline, has a head of 446 meters. The design discharge is 2.2 cusecs.
The project, which will generate 48.7 million units of electricity annually, is projected to generate an annual income of Rs 290 million. The project will generate 15.97 gigawatt hours of energy in the dry season and 32.77 gigawatt hours in the rainy season.
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