Ngadi Group to build 40.27 MW Super Nyadi Hydropower Project; to issue 63 lakh units promoter shares for locals

Siuri Hydropower Company, promoter of Ngadi Group Power Limited (NGPL) is going to build a 40.27 MW Super Nyadi Hydropower Project along the Nyadi river in Lamjung district. The project is being built with a total investment of Rs 7 arba with 70% investment from loan and 30% to be raised from promoters (including locals of Lamjung). The run-of-river project will have 6.7 km long tunnel with gross head of 690 meters. The power house will have 2 Pelton turbines with 22MW capacity each. When fully operational, the power plant will generate 495.5 lakh units electricity during dry season and 2013.2 units electricity in the wet season. The company has already signed a Power Purchase Agreement (PPA) with Nepal Electricity Authority (NEA), as per which the NEA will buy electricity at Rs 8.40 per kWh in dry season and for Rs 4.80 per kWh in wet season. The project is being built with 70% debt (Rs 4.90 arba) and 30% equity (Rs 2.10 arba). Out of the Rs 2.10 arba to be raised as equity, Rs 63 crore will be raised from the locals as promoter share capital. The project is expected to complete final financial management in 2 months and start construction within the next 6 months after appointment of contractor. The company also operates 5MW Siuri Khola Small Hydropower Project in Bhulbhule VDC of Lamjung district.