Everest Bank Limited and Chino Hydropower Limited have entered into a financial arrangement valued at Rs. 1.36 billion for the development of a 7.83 MW hydropower project located on the Chino River in Nason Rural Municipality, Manang. The contract was inked by Everest Bank CEO Sudesh Khaling along with Chino Hydropower Chairman Bijay Bahadur Shrestha.
This initiative is backed by Butwal Power Company and will be constructed by a Chinese contractor following the EPC (Engineering, Procurement, and Construction) model within a two-year timeframe. The electricity produced will be linked to the national grid through the Dharapani substation in Manang. A Power Purchase Agreement (PPA) between Nepal Electricity Authority and Chino Hydropower was finalized in Baisakh 2082. The project is anticipated to yield 44.463 GWh of electricity on an annual basis.
Established in collaboration with Punjab National Bank India, Everest Bank serves over 1.4 million clients, boasting a network of 132 branches, 4 extension counters, 7 regional offices, and 167 ATMs throughout Nepal. The bank offers modern mobile, internet, and SMS banking services and manages 32 revenue collection centers for the Government of Nepal. It also maintains representative offices in New Delhi and other nations.
