6 billion 15 million rupees loan investment has been collected under the leadership of Citizens Bank International in the 41.06 MW capacity Sankhuwakhola hydropower project. A co-financing loan agreement was signed on Monday between the project promoter Gurans Hydro and investor banks for financial management.
Out of the estimated cost of the project of 8 billion 20 million, banks will invest 6 billion 15 million rupees in debt equity ratio of 75:25.
Citizens Bank will invest Rs 2.90 crore, Everest Bank Rs 1.25 crore, Nepal SBI Bank Rs 1.25 crore and Sanima Bank Rs 75 crore. This is 75 percent overall. The remaining 25 percent capital will be raised from the promoters. According to the promoter, the goal is to complete the construction and generate electricity within the next four years. After the construction is completed, the generated electricity will be connected to Sittalpati substation at Sankhuwasabha of Nepal Electricity Authority. According to the
company, the project will produce 240.929 gigawatt hours of electricity annually, 75.041 gigawatt hours in winter and 165.888 gigawatt hours in rainy season. Ganeshraj Pokharel, Chief Executive Officer of Citizens Bank, said that since its inception, the bank has been investing in the green energy sector including hydropower through single investment as well as through its leadership, co-leadership and co-financing loans with other banks.
Citizens Bank has invested in 29 projects with a total capacity of 641.115 MW including 13 projects with a capacity of 124.541 MW completed and 16 projects with a capacity of 516.574 MW under construction.
