ADB, IFC, Proparco help finance $650m hydropower project in Nepal

The Asian Development Bank has approved $90 million in financing for the 216MW Upper Trishuli 1 hydropower project in Nepal. The project, with a total cost of $650 million, involves the development of a run of river hydroelectric power plant on the Upper Trishuli river, about 70km north of Kathmandu.

The IFC is proposing to invest an A Loan of up to $90 million and equity of up to $12.5 million. France's Proparco and Germany's DEG are also providing finance. The project sponsors are Daelim Industrial Co, Korea South East Power Company, and Kyeryong Construction Industrial.