Issuing a press statement, Avasar Equity informed that it will to invest Rs 390.6 million for developing two Run-of-river hydropower projects, namely Sagu Khola – 1 Hydropower Project (5.5 MW) and Sagu Khola Hydropower Project (20 MW) in Dolakha District, Bagmati Province, Nepal.
As per the statement, the Power Purchase Agreement for both projects has been concluded on take-orpay basis. The total energy generated by both the projects is expected to be approximately149 GWh per year. The power generated from both the projects shall be connected to the national grid through the Singati Substation. The Required Commercial Operation Date for both the projects is Chaitra 29, 2081 (i.e. April 12, 2025).
The investment by the Fund shall facilitate timely completion of the projects and contribute to fulfilling Nepal’s commitment to clean energy.
Avasar Equity Diversified Fund is Nepal’s first domestic Private Equity Fund registered with Securities Exchange Board of Nepal under the Specialized Investment Fund Regulation, 2019.
