Global IME Bank to invest in Nepal’s largest solar power project
Kathmandu, October 22: A Memorandum of Understanding (MoU) has been signed between Global IME Bank Limited and Prime Power Limited to invest in solar power projects.
The MoU was signed by Surendra Raj Regmi, Chief Executive Officer of the Bank and Ashish Garg, Chairman of Prime Power Limited.
According to the agreement, Prime Power Limited will construct and operate a solar power project with a capacity of 30 MW in Kapilvastu district.
Also, on the occasion, Prime Power Limited Chairman Garg informed that the company has already signed an agreement with the Nepal Electricity Authority for the purchase of power produced by the project as well as connecting the power to the national transmission line through the substation at Chanouta.
The group is one of the leading groups in Nepal in the field of solar energy, as the group of investors involved in the project has also invested in 56 megawatts of total connected capacity projects under five different solar projects.
It is the largest solar power project in Nepal.
The Bank has been investing in solar and hydropower at an affordable interest rate to promote its investments in renewable and green energy generation, transmission and distribution.
People’s News Monitoring Service.
