Bhilwara Energy achieves financial closure for hydro electric project in Nepal
Bhilwara Energy (BEL) has mopped up funds for its 120 MW hydro electric project in Nepal.
BEL has raised Rs 663 crore from a consortium of Indian and Nepali Banks for its 120 MW Likhu IV hydro electric Project in Nepal. The total capital requirement of the project is Rs 1,020 crore. The members of the consortium include IDBI Bank, Oriental Bank of Commerce, Punjab & Sind Bank, Exim Bank, PTC Financial Services and Everest Bank of Nepal.
The project is being developed by BEL’s SPV – Green Venture – is registered in Nepal and is a JV company with Triveni Energy of Nepal. The SPV has already acquired over 90 per cent of the required project land and has begun pre-construction activities.