Upper Bhote Koshi Hydropower Plant

active

The 36-MW, $98.2 million, Upper Koshi Hydropower Plant (run-of-river) was developed by the Bhote Koshi Power Company Private Ltd. (BKPC). As of December 2008, Himal International Energy Private Limited (HIEPL) was the major shareholder in BKPC (75%). The remaining equity was owned by Himal International Power Corporation Pvt. Ltd. (10%), Tara Fund Pvt. Ltd (10%) and RDC (5%) of Nepal. Mr. Siddhartha SJB Rana was the chairman of all these companies. The project was being built through a 40-year BOOT contractual framework. At the end of 25 years, 50% ownership in BKPC will be transferred to the Nepal Electricity Authority (NEA), with the remaining 50% stake to be transferred at the end of the 40-year license period. The Upper Bhote Koshi plant is located on the Bhote Koshi River, 110-km for Kathmandu. The project includes the development of a 25-km, 132-kV transmission line. Harza provided the preliminary design for the project. The project consisted of 2 turbines of 22MW, Francis Type.Annual generation was 246GWh. Financial closure was reached June 24, 1996. In addition to its $3 million equity stake, the IFC provided a $21 million direct (A) loan and a $27 million syndicated (B) loan in its fiscal year 1996. In fiscal year 1998, the IFC approved an additional $24 million syndicated loan and an $3 million risk management facility. The US Trade Development Agency is providing $30.0 million in export credits. A 25-year power-purchase-agreement was signed with the NEA and is expected to total 250,000 MW hours annually. Tariffs are set at $0.06/KWh, to be increased by 3% per year and indexed to the US CPI rate. Coordinates: 27°56'20?N 85°56'42?E http://en.wikipedia.org/wiki/Bhote_Koshi_Project