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    Reference: 20120278
    Release date: 9 October 2012

    Promoter – Financial Intermediary

    TANAHU HYDROPOWER LTD

    Location

    Description

    The project comprises the construction and operation of a 140 MW storage hydroelectric power scheme and its interconnection to the national grid. It is designed to help meet peak electricity demand in Nepal during the dry winter months and to operate as a baseload plant for the remainder of the year. The project will provide an alternative to expensive fossil fuel based power generation through cleaner energy, and will help stabilise Nepal's power supply system and reduce transmission losses.

    Objectives

    The project will provide this low income country with sustainable renewable electrical energy and will help to avoid additional thermal (diesel-fired) generation that is associated with high emissions of CO2 and other harmful atmospheric pollutants. The project will supply this renewable energy to a network that has a severe generation deficit which has resulted in extensive load shedding and related damage to the local economy. The project is therefore in line with the External Lending Mandate by promoting economic development and environmentally sustainable energy production. Financing of this project would contribute to the Bank’s energy lending objectives related to renewable energy and the mitigation of climate change.

    Comments

    This operation is covered by the EU Guarantee for EIB loans outside the EU.

    Sector(s)

    • Energy - Electricity, gas, steam and air conditioning supply

    Proposed EIB finance (Approximate amount)

    EUR 62 million

    Total cost (Approximate amount)

    EUR 390 million

    Environmental aspects

    An ESIA has been completed, in line with the principles of EU legislation, and has been approved by the competent environmental authority. The project will require the resettlement of 86 households and the acquisition of 112 ha of private land, of which only a minor proportion is currently cultivated. Appropriate compensation will be provided to all people affected by the project in accordance with national legislation and lenders' requirements. No significant negative environmental or social impacts have been identified that would prevent development of the project.

    Procurement

    The Bank will require the promoter to ensure that implementation of the project will be conducted in accordance with the Bank’s Guide to Procurement.

    Status

    Signed - 7/05/2013

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Nepal Energy