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DEVELOPMENT NEWS





The project will contributll contribute to the country’s long-t


security and sustainability. Fatima Ademoh


ong-term energy ustainability.


gy


Capacity of hydropower project: 216 MW Construction duration:


60 months US$453.1m


Project's total loan facility: OFFICER STORIES


Up close with the OPEC Fund’s Fatima Ademoh


Fatima Ademoh is no stranger to innovative power projects. Before joining the OPEC Fund in 2018, Ademoh served as a Senior Advisor in setting up the Rural Electrification Fund in Nigeria and developed renewable energy projects in Nigeria. At the OPEC Fund, Ademoh currently manages a diverse portfolio of private sector investments in the Energy and Financial Institutions sectors across multiple geographies. Commenting on the Nepal project, she says: “It achieved


a milestone with the signing of US$453 million in loan agreements in October 2019 with a consortium of nine lenders. It’s the largest foreign direct investment in Nepal and it utilizes several innovative financing structures (a mix of commercial and blended concessional financing).” Once completed, Ademoh adds, “the project will boost domestic power generation while helping to reduce imports of electricity and contributing to the country’s long-term energy security and sustainability.”


PHOTO: IFC 25


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