Upper Seti Hydropower Project Secures NPR 41.6 Billion Funding: A Major Leap for Nepal’s Energy Future

The 216 MW Upper Seti Hydropower Project in Bajhang has successfully achieved financial closure, marking a major step in Nepal’s renewable energy development.

Led by Kumari Bank Limited as the lead financier, a consortium of 14 banks committed NPR 41.60 billion to the project. The semi-reservoir project will generate over 1,229 GWh of electricity annually, reducing import dependency and supporting Nepal’s energy self-sufficiency goals.

Set to operate commercially by July 2031, the project will include a 220 kV switchyard, 30 km transmission line, and generate NPR 7.67 billion in its first year. The equity portion is raised by Samriddhi Energy Ltd., involving several institutional and individual investors.

Beyond energy production, the project will boost local infrastructure, create jobs, and drive economic growth in Sudurpashchim Province. Kumari Bank’s leadership highlights its growing role in energy infrastructure, with over 65 energy project investments already in its portfolio.