Kathmandu, Dec 20. NMB Bank Limited has successfully executed Financial Closure of Super Kabeli Khola A Hydropower Project having installed capacity of 13.5 MW (Snow Rivers Pvt. Ltd.) and Super Kabeli Khola Cascade Hydropower Project (Hilton Hydro Energy Pvt. Ltd.) having an installed capacity of 12 MW. Both the projects are located at Sirijangha Rural Municipality, Taplejung.
The Financial Closure Agreement of both projects have been signed with lead financing from NMB Bank Limited and Rastriya Banijya Bank Limited as Member Bank. Nepal Electricity Authority (NEA) has already facilitated for the construction of project by signing Power Purchase Agreement (PPA) with both companies. NPR 1.89 Billion and NPR 1.67 Billion shall be financed by Consortium Banks for the development of Super Kabeli Khola A Hydropower Project (13.5 MW) and Super Kabeli Khola Cascade Hydropower Project (12 MW) respectively. As NMB Bank Limited heads the signing agreement as a lead facilitator of debt package in hydro power project financing, it now rests with total number of 43 projects in its hydro portfolio.
NMB Bank Ltd. has already adopted Environmental and Social Policy and started implementing Environmental and Social Management System within its business portfolio as directed by Nepal Rastra Bank guidelines on Environmental and Social Risk Management 2018. In addition, Bank is committed to apply international good practices such as IFC performance standards in project financing including hydropower sectors.
NMB Bank Ltd. has been awarded with the prestigious Bank of the Year award four times, by The Bank Magazine of The Financial Times, London. The bank was recently awarded Bank of the Year Asia in 2021 and Bank of The Year Nepal in 2017, 2018, 2020 & 2021. NMB Bank is currently providing its services through 201 branches, 138 ATMs and 9 extension counters.
