Financial Closure Secured for 44.52 MW Sanibheri Hydropower Project in Rukum Purba

The financial closure for the Sanibheri Hydropower Project, to be developed by Expert Hydro Investment Company, has been officially confirmed. The 44.52-megawatt (MW) project, located in wards no. 7 and 14 of Putha Uttarganga Rural Municipality in Rukum Purba district, will be funded through a consortium of leading banks and financial institutions led by Citizens Bank.

Under the funding agreement, Citizens Bank will invest Rs 2.5 billion, Nabil Bank will contribute Rs 1.5 billion, and Nepal Investment Mega Bank will provide Rs 1.2 billion. Additionally, Sanima Bank and Siddhartha Bank will each invest Rs 1 billion toward the project.

On Monday, Ganesh Raj Pokhrel, CEO of Citizens Bank, and Santosh Raj Nepal, Managing Director of Expert Hydro, signed a memorandum of understanding (MoU) to formalize the funding commitment. The total project cost is estimated at around Rs 9.6 billion.

The run-of-the-river project is expected to be completed within 42 months, with the electricity generated to be transmitted through the Baphikot Substation. The Nepal Electricity Authority (NEA) has already signed a power purchase agreement (PPA) with the project, ensuring a stable market for the electricity produced.

The development of the Sanibheri Hydropower Project is expected to significantly boost the local economy while contributing to Nepal’s growing renewable energy sector.