BOKL and 2 other banks signs financing agreement of Rs 65.46 crore with Ridi Hydropower; aims to promote clean energy source with investment in 8.5 MW solar energy

Bank of Kathmandu, with an aim to promote alternate energy source in Nepal, has signed one of the biggest financing agreements in alternate energy in Nepal with Ridi Hydropower Development Company.

The financing agreement of Rs 65.46 crore was signed by the consortium of banks including Citizens Bank International and Nepal Bangladesh Bank which is led by Bank of Kathmandu Limited. The project with installed capacity of 8.5 MW will be built in Tilotama -7 Rupandehi and the produced energy will be evacuated directly to the national electricity grid.

BoK is the same commercial bank which had signed similar financing agreement with Arun Valley Hydropower Company some 18 years ago which paved the way for private sector financing scheme in Nepalese hydropower sector, as per the media statement.