Financial Management Agreement Signed for 125 MW Hydropower Project in Taplejung

Spark Hydroelectric Company limited has signed a financial management agreement for the generation of a 125 MW hydropower project utilizing the Tamor River and Mewakhola in Taplejung. The project, with an estimated cost of Rs 23.04 billion, will receive 75% of its financing from a consortium of banks and financial institutions, including Agricultural Development Bank, Nepal SBI Bank, Jyoti Bikash Bank, ICAC Finance, Nepal Finance, and Goodwill Finance are the investors for this project.The remaining 25% will be raised through equity investment.

Mr. Amit Shrestha, Corporate Credit Head at Siddhartha Bank, and also Chairman of Spark Hydro Power Mr. Shrawan Kumar Goyal, signed the agreement on behalf of both organizations. The signing ceremony was attended by Founder Chairman Limbu, Managing Director Sudip Kumar Chaudhary, and other directors of the company.

The project has already secured a generation license from the Department of Electricity Development on Ashwin 25th ,2077, an approved Environmental Impact Assessment on Ashad 31st 2075, and signed a Power Purchase Agreement with the Nepal Electricity Authority on Ashwin 24, 2080.

Founder Chairman Limbu stated that 25% of construction has been completed and the project is on track to begin electricity generation by Ashwin 25th, 2085. The generated power will be connected to the Dhungesadhu substation in Mewakhola Rural Municipality.