Global IME, Prime Power ink credit facility deal on solar power

Global IME Bank and Prime Power Limited have signed a credit facility agreement to develop a solar power project. The agreement was formalized during a function held yesterday, with Global IME Bank’s CEO, Surendra Raj Regmi, and Prime Power Limited’s President, Ashish Garg, in attendance.

Under this agreement, Global IME Bank will finance the 30-megawatt Kapilvastu Solar Power Project in the Kapilvastu district. Garg mentioned that Prime Power has already secured an agreement with the Nepal Electricity Authority to sell the electricity generated by the project. The electricity will be connected to the national grid via substations in Chanauta, Kapilvastu. This project is set to be one of the highest-capacity solar initiatives in Nepal.

Global IME Bank emphasized that renewable and green energy production is a key focus of its investment strategy.

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