NMB Bank Limited has successfully inked the Financial Closure Agreement of Madame Khola Hydropower Project having an installed capacity of 24 MW. The project being developed by Madame Khola Hydropower Pvt. Ltd. is located at Madi Rural Municipality, Kaski, Gandaki Province of Nepal.
The Financial Closure Agreement has been signed on Shrawan 19, 2077 amidst a ceremony with lead financing from NMB Bank Limited and NIC Asia Bank Limited, Prabhu Bank Limited, and Employees Provident Fund as Consortium Member Banks and Financial Institution. The Nepal Electricity Authority (NEA) has already facilitated the construction of the project signing Power Purchase Agreement (PPA) with a company on B.S. 2075/04/15 (1st Amendment on 2075/10/25 B.S.).
The total project cost stands at NPR 4.48 billion out of which NPR 3.325 billion has been managed by the Consortium Debt. As NMB Bank Limited hails the signing agreement as a lead arranger of debt package in hydropower project financing, it now stands with a total number of 42 projects in its hydro portfolio.