HYDRO
Nepal Water and Energy Development Company (NWEDC)
OPEC FUND FINANCING: US$13.8 MILLION (PRIVATE SECTOR)
TOTAL PROJECT COST: US$647 MILLION APPROVED: MARCH 2019 CO-FINANCIERS: ADB, AIIB, CDC, FMO, IFC, KDB, K-EXIM, PROPARCO
The OPEC Fund contributed more than US$13 million for the construction of a landmark hydroelectric plant in central Nepal. With eight other lenders, this is one of the largest foreign direct investments in Nepal’s history. NWEDC will build and operate a 216 MW run-of-the-river hydroelectric plant on Trishuli River. Located some 70 km from Nepal’s capital city Kathmandu, the hydropower plant is expected to increase Nepal’s electricity supply by one-third from today’s levels and provide clean, reliable power to nine million of Nepal’s residents.
HYDRO
Neelum Jhelum Hydropower Plant Project in Pakistan
OPEC FUND FINANCING: US$31 MILLION AND US$50 MILLION (PUBLIC SECTOR) TOTAL PROJECT COST: US$2.8 BILLION APPROVED: 2009 AND 2012 CO-FINANCIERS: ADFD, EXIM BANK OF CHINA, ISDB, GOVERNMENT OF PAKISTAN, KFAED, SFD
Two loans were extended by the OPEC Fund in support of this operation for the construction of a 969 MW power plant in the Muzaffarabad district, populated by around 1.5 million people. The project is helping to improve the efficiency of social services – such as schools, healthcare facilities and water supply facilities – as well as encouraging the development of local industries. The new plant will help reduce the cost of energy for newly connected households and farms.
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