News
10 April 2018
SBI agrees loan for 900MW Arum III hydro project in Nepal
In:
Manufacturing, Renewable energy, Traditional energy
Region:
Asia-Pacific
The SJVN consortium awarded the construction of the 900MW Arun III hydropower project in Nepal has made an informal agreement with the SBI for a Rs80 billion loan.
The Punjab National Bank, through its Nepalese partner, the Everest Bank, will provide financing for the construction of the 268km long 400 KV transmission line and will make a direct Rs2.25 billion investment in Arun III. Nepali banks will also provide a NRs4.06 billion bridge loan. The Indian Government has also approved a Rs92 billion investment with SJVN contributing Rs25 billion. Upon completion Nepal will receive 21.9% of the total annual generation gratis for the 25-year operation.
