Everest Bank to Finance Rs. 1.36 Billion for 7.83 MW Chino Hydropower Project in Manang

Everest Bank Limited and Chino Hydropower Limited have signed a financial agreement worth Rs. 1.36 billion for the construction of a 7.83 MW hydropower project on the Chino River in Nason Rural Municipality, Manang. The agreement was signed by Everest Bank CEO Sudesh Khaling and Chino Hydropower Chairman Bijay Bahadur Shrestha.

The project is promoted by Butwal Power Company and will be built by a Chinese contractor under the EPC (Engineering, Procurement, and Construction) model within two years. The electricity generated will be connected to the national grid through the Dharapani substation in Manang. A Power Purchase Agreement (PPA) between Nepal Electricity Authority and Chino Hydropower was finalized in Baisakh 2082. The project is expected to generate 44.463 GWh of electricity annually.

Everest Bank, established in partnership with Punjab National Bank India, has over 1.4 million customers, with a network of 132 branches, 4 extension counters, 7 regional offices, and 167 ATMs across Nepal. It provides modern mobile, internet, and SMS banking services and operates 32 revenue collection centers for the Government of Nepal. The bank also has representative offices in New Delhi and other countries.