NMB Bank executes financial closure of 8.63 MW Chepe Khola Small Hydropower Project; bank to finance Rs 1.125 arba in 1.5 arba project with 40 hydro projects so far in its portfolio

NMB Bank has successfully executed the financial closure of Chepe Khola Small Hydropower Project having an installed capacity of 8.63 MW. The project being developed by Aashutosh Energy Pvt. Ltd. is located at Dudh Pokhari Rural Municipality of Lamjung District and Ajirkot Rural Municipality of Gorkha District. The project is solely financed by NMB Bank Ltd. The total project cost stands at NPR 1.5 billion out of which NPR 1.125 billion shall be financed by the bank. The financial closure of Chepe Khola Small Hydropower Project places NMB Bank as a front runner in hydro power project financing with total number of 40 projects in its hydro portfolio.

The project is being developed by renowned hydropower developers along with the presence of local promoters. Though Required Commercial Operation Date (RCOD) agreed with Nepal Electricity Authority (NEA) is 2078/11/9 B.S., the developer targets to commission project within Kartik End, 2078. The power generated from the project shall be evacuated from Kirtipur substation at Lamjung.