Kathmandu. Financial closure has been achieved for the 47.7 MW Kalika Kaligandaki Hydropower Project, which is currently under development by Maulakalika Hydro Power Company Limited. The project, located across Tanahun and Nawalpur districts, has secured investment under the leadership of the Agricultural Development Bank.

💰 Project Cost and Investment Structure

The total estimated cost of the project is Rs 10.15 billion. Of this, Rs 7.6 billion (75%) will be financed through loans, and the remaining 25% will come from equity investment.

The financial agreement was officially signed on Ashar 23 between the project developer and participating banks. The banking consortium includes:

• Lead Bank: Agricultural Development Bank (Krishi Bikas Bank)

• Co-Lead: Citizens Bank International Limited

• Member Banks: HIDCL, Prabhu Bank, Laxmi Sunrise Bank, Shangri-La Development Bank

🛠️ Milestone in a Long Journey

Umesh Kasaju, CEO of Maulakalika Hydro Power, shared that after ongoing efforts since 2064 BS, the project has now entered a critical development phase. He expressed full commitment to deliver the project within budget and on time, leveraging over 20 years of experience in the hydropower sector.

The Kalika Kaligandaki project is being developed with PROR (Pondage Run-of-River) technology and is designed to evolve into a pop storage project—making it the first of its kind in Nepal.

📍 Multipurpose Project with Tourism Potential

Gobinda Gurung, CEO of Agricultural Development Bank, emphasized the project's multipurpose value and called for timely completion. He also noted that the project, situated near Devghat, has strong potential to become a tourist attraction. According to him, it took six months of coordination between the developer and consulting teams to finalize financial arrangements.

Manju Shrestha Kasaju, Director of the company, stated that the project includes a 15 km long reservoir, making it more than just a hydropower initiative. She emphasized its potential to uplift the living standards of local communities while enhancing the cultural and spiritual value of the Devghat region.

⚡ Electricity Generation and Transmission

Electricity will be generated from a dam on the Kaligandaki River, approximately 4 km upstream from Devghat, between Devghat Rural Municipality and Gaidakot Municipality (Nawalpur). The power plant will be constructed just below the dam.

• Annual Energy Output: 279.957 GWh

• Transmission Connection: Power will be fed to the 132 kV Apatari substation, located 8 km from the project site.

📅 Expected Completion by 2084 BS

The project is expected to be completed by 2084 BS, backed by investments from NRNs (Non-Resident Nepalis), seasoned hydropower professionals, and entrepreneurs with long-standing expertise in the energy sector.

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Image Source : Urjasanchar