The construction of the 25 MW Setinadi hydropower project has been completed on the Seti River located in Machhapuchhre Rural Municipality and Pokhara Metropolitan City of Kaski District.
The project promoted by Vision Lumbini Energy Company has been completed and formally inaugurated and connected to the system of Nepal Electricity Authority.
Vision Lumbini Energy Company Limited, which was registered as a public limited company on October 26, 2075, was informed by Jagat Pokharel, the company's chairman, that more than 1,500 founding investors are the owners of this project.
The construction work of the project which started in 2077 has been completed and the Authority has started purchasing electricity from 27th November 2081. According to the project, the project has been producing better energy than specified in the power purchase agreement every month until now.
The electricity generated from the Setinadi hydropower project is connected to the national transmission line of the Nepal Electricity Authority through a four-kilometer long transmission line of 132 kV capacity up to Lahachok substation.
It will generate an annual income of Rs 870 million in the first year from the electricity produced by this project, which has an investment of Rs 6 billion. Under the leadership of NMB Bank, the project is funded by the Employee Provident Fund and the Agricultural Development Bank. For the
project, 70 percent of the estimated total cost from the bank is a loan and 30 percent is the founder investor's own capital investment. The company organized an inauguration ceremony here today. In the
program, former Finance Minister Dr. Yuvraj Khatiwada, Chairman of Independent Energy Producers Association of Nepal (IPPAN) Ganesh Karki and others said that the standard established by Vision Lumbini in energy production is exemplary.
