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AIIB loan of 90 million US dollars to fund the construction of the Tesuri River hydropower project in Nepal
Author: source: date: 2019-09-26 11:39:46
The Asia Infrastructure Investment Bank (AIIB, hereinafter referred to as the “AIIB”) Board of Governors approved an investment totaling $90 million, It is used to finance the construction of the first phase of hydropower project in the upper reaches of the Trishuli River in Nepal. This is its first investment project in Nepal. The installed capacity of the power station is 216 MW, It aims to improve Nepal's power supply capacity and solve the country's serious power shortage.
D. J. Pandian, deputy governor and chief investment officer of AIIB, said: A major earthquake in Nepal in 2015 caused heavy damage to its infrastructure, The power shortage problem is not conducive to the reconstruction and restoration of infrastructure and its functions. Investing in the hydropower industry, especially encouraging the private sector to increase investment, will help promote Nepal’s economic growth and eradicate poverty.
The Nepal Water Resources and Energy Development Corporation (NWEDC) will develop the project using the “Build-Manage-Operate-Transfer” (BOOT) model.And has 35 years of ownership and management of the project. After the power station is put into operation, it will be powered for 30 years according to the power purchase agreement with the Nepal Power Authority.
The total investment of the project is about 650 million US dollars and will be jointly funded by the International Finance Corporation, the Asian Investment Bank and several other financial institutions.The AIIB also plans to provide a $900,000 loan for the proposed Tamakoshi V hydropower project in Nepal. It also plans to allocate another $1 million from the project preparation special fund for the upgrading and expansion of the distribution system.
There is another projects in Chine and Nepal, The joint development framework agreement for the Tamakushi-3 Hydropower Project in Nepal was signed in the capital Kathmandu on the 25th. Zhang Guohua, deputy governor of Yunnan Province of China, and Nepal’s Energy Minister Puen attended the signing ceremony. According to reports, the hydropower station is located in the central and eastern part of Nepal, with a planned installed capacity of 200 megawatts. The annual power generation after completion is estimated to be 980 million kWh. Puen said that the Tamakasi-3 Hydropower Project is a symbol of Nepal-China friendship and hopes that Nepal can learn more from the experience of water development. Last few month, our Nepal customer visit our factory and talk about his projects with our engineers, stay in Chengdu of three days and have a good time in Chengdu. Our company has made every effort to arrange the travel plan for Chengdu in the customer, and has won the satisfaction and praise of the customers. As for our business, after discussion and negotiation between the two sides, Nepalese customers placed 2 sets order of 250kw francis hydro turbine generator units in our company.
I hope that both China and Nepal can promote the friendship between the two sides and the progress of hydropower in hydropower projects.