22.5 MW Thulo Khola Hydro at Myagdi completes financial closure; 3 banks under Citizens Bank to make loan investment

22.5 MW Thulo Khola Hydropower has concluded its financial closure agreement thereby securing the required loan under the consortium of the banks led by Citizens Bank.

Agriculture Development Bank and Machhapuchchhre Bank are the consortium partners of this deal for which an MoU was inked between the chairman of Dev Group Mr. Narendra Ballav Pant and consortium infra-banking head of Citizens Bank Mr. Roshan Malla amid a program. the project is expected to cost Rs 3.94 arba with 75% cost being financed under the loan, as per the media statement.

The hydropower project that is being constructed at Myagdi district has already completed 34% of its civil construction work and is expected to come online by Ashoj, 2082 or even earlier, as per the media statement.