- Nepal Water and Energy Development Company (NWEDC)
Nepal Water and Energy Development Company (NWEDC)
|Borrower||Nepal Water and Energy Development Company (NWEDC)|
|Financing Type||Private Sector & Trade Finance|
|Instrument||Private Sector Debt|
|Co-financiers||IFC, ADB, PROPARCO, AIIB, CDC, FMO, KDB, K-Exim|
|OPEC Fund Contribution (US$m)||30.00|
The OPEC Fund is contributing more than US$13 million to a $453 million financing package to support the construction of a landmark hydroelectric plant in central Nepal.
IFC, a member of the World Bank Group, is the lead arranger of the debt package, which includes eight other lenders, and is one of the largest foreign direct investments in Nepal’s history. The plant will increase Nepal's electricity supply by one-third from today’s levels and provide clean, reliable power to some nine million people.
The financing is being provided to the privately-owned Nepal Water and Energy Development Company. The firm will develop and operate a 216 MW, run-of-the-river hydroelectric plant on the Trishuli River about 70 km north of Kathmandu. Officially known as Upper Trishuli-1, the project’s financing structure, competitive tariffs, and use of internationally accepted contract standards provides a model for future hydropower projects in Nepal.