Financial Closure Secured for 44.52 MW Sanibheri Hydropower Project in Rukum Purba
Sanibheri Hydropower secures Rs. 9.6B financial closure with a consortium led by Citizens Bank; project to be completed in 42 months.
The 44.52-megawatt Sanibheri Hydropower Project in Rukum Purba has officially achieved financial closure, paving the way for full-scale construction. The project, being developed by Expert Hydro Investment Company, will be executed at an estimated cost of Rs. 9.6 billion.
The funding package is backed by a consortium of banks led by Citizens Bank International, which has committed Rs. 2.5 billion. Other major lenders include Nabil Bank (Rs. 1.5B), Nepal Investment Mega Bank (Rs. 1.2B), and Sanima Bank and Siddhartha Bank, each contributing Rs. 1B.
A memorandum of understanding (MoU) was signed on Monday between Ganesh Raj Pokhrel, CEO of Citizens Bank, and Santosh Raj Nepal, Managing Director of Expert Hydro, confirming the financial closure.
The run-of-the-river project, located in Putha Uttarganga Rural Municipality (wards 7 and 14), is expected to be completed within 42 months. Power generated will be evacuated through the Baphikot Substation, under a Power Purchase Agreement (PPA) already secured with the Nepal Electricity Authority (NEA).
Industry experts note that Sanibheri’s progress strengthens Nepal’s renewable energy expansion goals and provides a much-needed economic boost to Rukum Purba district through infrastructure development and job creation.