AIIB approves US$90m financing for 216 MW Upper Trishuli-1 hydropower in Nepal

The Asian Infrastructure Investment Bank (AIIB) has approved a loan financing of up to US$90 million for the 216 MW Upper Trishuli-1 Hydropower Project, which is being developed by a Korean joint venture company. 

The project, with an estimated cost of US$650 million, will be financed entirely through foreign capital. Besides AIIB, the project has other co-financiers including the International Finance Corporation, Asian Development Bank and other development institutions.

The project is to be developed under the build-own-operate-transfer model. It has an existing power purchase deal with the Nepal Electricity Authority.