Kumari Bank To Invest in 20 MW Lower Balephi Khola Hydropower Project

Kumari Bank is going to invest in the 20 MW Lower Balephi Khola Hydropower Project to be built by Sajha Power Development Private Limited. The financing arrangement (financial closure) was completed between Kumari Bank and Sajha Power Development on Tuesday.

On behalf of Sajha Power Development Private Limited, company Chairman Sanjiv Neupane and Managing Director Kubermani Nepal and Bhushan Tandukar, head of project financing on behalf of the bank, signed the financial closure.

For Ridi Power Company Limited the 20 MW Balephi Lower Khola Hydroelectric Project to be built on the Balephi River in Sindhupalchok is the main investment. Kubermani Nepal, Managing Director of Sajha Power Development Pvt. Ltd. said that the company aims to complete the construction within 2 years from the date of construction.

440 crores is invested in Balephi Lower Khola hydropower project. 75 percent of which will be invested by Kumari Bank. Ridi Power will invest the remaining 25 percent of the amount raised from the rights issue.