Api Power Company secures funding for 8 MW Parwanipur Solar Energy Project with Bank of Kathmandu extending loan of Rs 49.50 crore

Sun, Aug 15, 2021 3:24 AM on Latest, Corporate,

Api Power Company has successfully completed a financial closure agreement for its 8 MW Parwanipur Solar Energy Project on Shrawan 29, 2078.

The project will be completed at the total estimated cost of Rs 64 crore and will be funded solely by the Bank of Kathmandu at Rs 49.50 crore, as per the media statement. The MoU was signed between Mr. Sanjeev Neupane of Api Power and Mr. Anil Shrestha from Bank of Kathmandu. 

Api Power is expecting to complete the construction of the project within six months whereas has already operationalized the 4 MW Chandranighapur Solar project with few other smaller solar projects and is constructing 40 MW Upper Chamelia project, as per the media statement.