ADB, JICA, EIB finance $506m Nepal hydropower project

The Asian Development Bank (ADB), Japan International Cooperation Agency (JICA), and European Investment Bank (EIB) are financing the Tanahu Hydropower Project in Nepal. ADB is providing $506 million, JICA $184 million, and EIB $85 million for the project, which boasts 140MW installed capacity is the first ever reservoir hydropower project in the country. Nepal Electricity Authority, the state-owned power utility, has signed a power purchase agreement with Tanahu Hydropower Project. Nepal Electricity Authority will provide $87 million in financing.