Clean Energy Development Bank Ltd. has come up with a "hydro fund" worth Rs. 300 million. A program held on Monday announced that the fund would be invested on a hydro project with 50 MW capacity or more depending upon the attractiveness of the project.
Manoj Goyal, the CEO of CEDBL said that the fund targets on the hydro projects that have already received the license but aren't able to even finance the study and research programs. From project analysis to construction, all the financial need would be facilitated by the fund created.
U.S. Agency for International Development's South Asia Regional Initiative for Energy (USAID's SARI/Energy) is providing technical assistance to the Clean Energy Development Bank (CEDB) to develop the fund. Such fund is created for the first time in Nepal and it will enable 40 hydropower projects edifice within two years.
CEDBL will be providing up to 70% loan from the established fund and remaining 30% capital will also be arranged by the bank itself. Moreover, the construction work for the most feasible project will soon be started.
Source:
Jamb News Service
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Friday, December 12, 2008
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