Upper Trishuli-1 Hydropower Plant

Active

Prospective

The project involves the development, construction, operation and maintenance of 216MW Upper Trishuli-1 Hydropower plant on the Trishuli River near Nepal's capital, Kathmandu. The energy will be sold to the national utility Nepal Electricity Authority under a 30-year PPA. The SPV Nepal Water and Energy Development Company Pvt Ltd (NWEDC) is owned as follows: 50% by Korea South-East Power Co., Ltd., 15% by Daelim Industrial Co. Ltd., 10% by Kyeryong Construction Industrial Co., Ltd and 10% by Nepali locals. IFC holds 15% stake in NWEDC via a $4.25 million equity investment made in 2013 through IFC InfraVentures, an early-stage project development fund. NWEDC will develop the plant under Build, Own, Operate and Transfer model under a 35-year concession agreement with the Government of Nepal represented by the Ministry of Energy, Water Resources and Irrigation. The Project cost is estimated at about $647.2 million. Asian Development Bank (ADB) has signed a $60 million financing package comprising of a $30 million loan from ADB and a $30 million loan from the ADB-administered Canadian Climate Fund for the Private Sector in Asia II (CFPS II). $161 million ($66 million loan and $95 million blended finance facility) by International Finance Corporation; $100 million by Export–Import Bank of Korea; $30.8 million by Korea Development Bank (KDB); $39.6 million by Asian Infrastructure Investment Bank; $22 million by Commonwealth Development Corporation (CDC Group); $15.4 million by FMO (Nederlandse Financierings-Maatschappij Voor Ontwikkelingslanden); $13.2 million by OPEC Fund for International Development; and $11 million by Proparco. MIGA provided $135 million guarantees against the risk of breach of contract. Korea Trade Insurance Corp is ensuring KDB's tranche. Debt financing was signed on 1 November 2019. The plan? is expected to be commissioned in March 2024. https://www.adb.org/projects/49086-001/main#project-overview https://ijglobal.com/data/transaction/31873?name=Upper%20Trishuli%20Hydro%20Power%201%20(216MW)%20IPP&link=%2Farticles%2F143481%2Fupdate-debt-financing-for-216mw-nepali-hydro https://nwedcpl.com/project/projectsummary https://www.miga.org/project/upper-trishuli-1-hydropower-project https://kathmandupost.com/money/2019/07/17/developer-of-upper-trishuli-1-sees-funding-oversubscription-by-178-million-near-financial-closure https://disclosures.ifc.org/#/projectDetail/SII/35701 https://www.proparco.fr/en/actualites/ifc-partners-provide-more-450-million-support-major-hydro-electric-plant-nepal?origin=/en/actualites?field_date_value=&field_date_value_1=&field_type_target_id=All&field_region_country_target_id=All&field_theme_target_id=All&items_per_page=5&page=2 https://www.fmo.nl/news-detail/2dc6337a-145d-4eb0-b298-76cf4be50d03/fmo-contributes-to-us-450m-package-in-support-of-major-hydro-electric-plant-in-nepal

Energy

World Bank Group

Project

Water Supply and Storage, Commercial, Power Generation (CCGT), Hydro, Power Transmission, Government, Manufacturing (Industrial)