ABP Energy Pvt. Ltd. and Siddhartha Bank Limited have officially signed a credit facilities agreement to finance the development of the Tadi Ghyangphedi Hydropower Project (8 MW). The total term loan amount for the project is NPR 1,230,000,000, covering 75% of the total projected cost of NPR 1,640,000,000, with the remaining 25% being funded through equity investment.
The project is being developed by a team of experienced promoters under the leadership of Mr. Purnalal Shrestha, who serves as the Chairman. The board of directors also includes Mr. Asgar Ali, an accomplished IT expert, and Mr. Balaram Khatiwada, the General Secretary of the Independent Power Producers’ Association of Nepal (IPPAN).
Located in Dupcheshowr Rural Municipality, Nuwakot, the Tadi Ghyangphedi Hydropower Project is expected to be completed within 18 months, with a Required Commercial Operation Date (RCOD) set for Baishak 31, 2084. The project’s Generation License was issued by the Department of Electricity Development (DOED) on Ashar 31, 2081, and a Power Purchase Agreement (PPA) was signed on Bhadra 27, 2081, ensuring full compliance with regulatory standards.
This collaboration between ABP Energy Pvt. Ltd. and Siddhartha Bank Limited marks a significant milestone in Nepal’s energy sector, furthering efforts to harness sustainable energy resources. Upon completion, the project will strengthen the national energy grid while fostering local development and economic growth in the Nuwakot region.
