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NEPAL PROJECT CROWNED POWER DEAL OF THE YEAR


Clean, reliable power for millions of people in Nepal


A


n OPEC Fund co-financed hydropower project in Nepal has been named ‘Power


Deal of the Year’ (Regional & South Asia) by The Asset magazine. The project is set to increase Nepal’s electricity supply by one- third from today’s levels and provide clean, reliable power to millions of people. The OPEC Fund provided a private sector loan of close to US$14 million for the project with the Nepal Water and Energy Development Company. The project’s total loan facility of around US$453 million is one of the largest foreign direct investments in Nepal. It will help construct a 216 MW hydropower project on the Trishuli River. Site preparatory work has begun, with the main construction scheduled to begin in October 2020 and last for 60 months. Other lenders include the Asian


Development Bank, the Asian Infrastructure Investment Bank, CDC Group, the Export- Import Bank of Korea, FMO, International Finance Corporation, the Korea Development Bank and Proparco.


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