Kathmandu. Everest Bank Limited and Chino Hydropower Limited have signed an agreement to manage the finances. The Bank and Hydropower have agreed to make financial arrangement of Rs 136 crore for the construction of a 7.83 MW hydropower project at Chino khola.
The MoU was signed by Sudesh Khaling, Executive Chief of Everest Bank and Bijaya Bahadur Shrestha, Chairman of Chino Hydropower. Located at Nasong Rural Municipality in Manang district, the project is a project managed by Butwal Power Company Limited. To complete the project within two years, the Chinese contractor has been awarded the contract on the VER model and the electricity generated from it will be connected to the national grid from the sub-station at Dharapani in Manang district.
Nepal Electricity Authority (NEA) and Chino Hydropower Limited have signed a power purchase agreement for the project in April 2018. Annually from this project 44. 463 gigawatt hours of electricity will be generated. Established in a joint partnership with Punjab National Bank India, the bank has more than 1.4 million customers and has a network of 132 branches across the country, 4 extension counters, 7 provincial offices and 167 ATMs. The bank, which has been providing state-of-the-art mobile, internet and banking facilities through a global network, has been providing services from 32 collection centers for the revenue collection of the Government of Nepal.
The bank has been providing services by establishing its representative offices in New Delhi, India and other countries as well.
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