Kathmandu, May 10: The construction of the 25-megawatt Seti River Hydropower Project, located in Machhapuchchhre Rural Municipality and Pokhara Metropolitan City of Kaski district, has completed.
Vision Lumbini Urja Company promoted and built the project, which has now formally opened and connected to the Nepal Electricity Authority' (NEA) grid.
Jagat Pokharel, chairman of Vision Lumbini Urja Company Limited, a public limited company registered on October 12, 2018, said over 1,500 founding investors own the project.
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Construction began in 2020 BS (2023 AD). Since November 12, 2024, the NEA has purchased power from the project, which has consistently exceeded its contracted monthly generation targets.
The project transmits power via a four-kilometer, 132 kV transmission line from Setichowk Substation into the NEA's national grid.
Built with a total investment of approximately Rs 6 billion, the project expects to generate Rs 870 million in its first year. NMB Bank led the financing, alongside contributions from the Employees' Provident Fund and the Agricultural Development Bank.
Banks provided 70 percent of the project's estimated cost as loans, with the remaining 30 percent financed by the founding investors. The company held today's inauguration ceremony on site.
Former Finance Minister Dr Yubraj Khatiwada and IPPAN Chairman Ganesh Karki praised Vision Lumbini's exemplary standards in renewable energy production.
